Zoltek hired J.P. Morgan Securities to explore strategic alternatives, including a sale.
In an update on that process, Rumy said in a conference call Aug. 12 that Zoltek had “some exciting possibilities.” He added, “Because of the SEC rules and everything, I can’t talk about it, but I can just — I can certainly reassure you that the process is going and is going according to, I wouldn’t say plans, because you can not really plan that — this process, but according to expectations.”
Zoltek Cos. Inc. reported a net loss of $897,000 for its fiscal third quarter, compared to a profit of $5.6 million in the third quarter of fiscal 2012, as the company was weighed down by the slowdown in the wind energy market.
In another indication that a sale of Bridgeton-based Zoltek Cos. Inc. may be near, a new Delaware corporation named MHI Wind Power Americas Inc. was registered Sept. 18.
“This is exactly what Mitsubishi does before every acquisition — they set up a new subsidiary to be the buyer,” an analyst who follows the carbon fiber industry said Friday.
Zoltek, led by Chairman and CEO Zsolt Rumy, is a manufacturer of carbon fibers for the wind energy industry, among others. Mitsubishi has lots of subsidiaries, including Mitsubishi Heavy Industries, or MHI, and has been making acquisitions in carbon fiber.
We have requested comment from Andy Whipple, Zoltek’s chief financial officer, and renewed an earlier request for comment from Mitsubishi.