Zoltek (ZOLT) Announces Successful Start-Up of Mexican Plant; Issues Guidance
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Zoltek Companies (Nasdaq: ZOLT) reported the successful start-up of acrylic precursor and carbon fibers manufacturing operations at its Zoltek de Mexico facility and provided updates on recent results and its business outlook in achieving its strategic objective of commercializing carbon fibers as a widely used building material.
Zoltek expects Q4 revenue to be $51 million versus the consensus of $52.39 million.
Zoltek remains optimistic in its outlook for fiscal 2009 and beyond. Zoltek continues to believe it can achieve a run rate of $500 million of sales by fiscal 2011.
Zoltek believes automotive applications are destined to become the largest user of carbon fibers. For years there has been an upward trend in the use of carbon fiber reinforced composites in the manufacture small-volume and many times hand-made cars.
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