This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Quinpario Partners Discloses Group Ownership Of 10.13% In Zoltek

NEW YORK, March 4, 2013 /PRNewswire/ -- Quinpario Partners LLC announced today the formation of a group consisting of highly competent and reputable investors and director candidates with respect to Quinpario's investment in Zoltek Companies, Inc. ("Zoltek" or the "Company") (Nasdaq:ZOLT).  The Quinpario Group disclosed in a Schedule 13D filing today with the Securities and Exchange Commission aggregate ownership of approximately 10.13% of Zoltek's outstanding shares, making the Quinpario Group the Company's largest unaffiliated common shareholder.  Additional information regarding the Quinpario Group and its members is set forth in the Schedule 13D.  Quinpario also announced today it has delivered a letter to the Company's Chairman and CEO, Zsolt Rumy, with a copy to the Company's Board of Directors.  The full text of the letter is included below. 

Quinpario stated in the letter that it has been following Zoltek closely for some time and has devoted considerable time and resources to analyzing Zoltek's product offerings, operational performance and corporate structure, as well as the competitive environment in the carbon fiber space.  The letter reported that the Quinpario Group's substantial investment in Zoltek is based upon Quinpario's analysis of the carbon fiber industry, generally, and Zoltek, specifically, which has confirmed that the Company has exceptional technology, product offerings and a strong customer base in the wind and aircraft brake markets, but has yet to realize the full potential consistent with its strong technical capabilities.  As such, Quinpario believes that an opportunity exists to dramatically improve Zoltek's operational performance, unlock Zoltek's significant growth potential and enhance shareholder value.  Quinpario also disclosed that it had made a proposal to Mr. Rumy regarding two strategic alternatives to enhance shareholder value, but received a response from the Company's legal counsel indicating that the Company was unwilling to engage with Quinpario.

Stock quotes in this article: ZOLT 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs