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30th September 2013, St Louis, MO

Zoltek becomes Toray subsidiary

Carbon fibre manufacturer Zoltek has entered into a merger agreement with Toray Industries, which makes Zoltek a wholly-owned subsidiary of Toray that will operate as a separate business unit.

Toray Industries, a specialist in organic synthetic chemistry, polymer chemistry and biochemistry, will acquire all of the Zoltek’s outstanding shares for a total equity value of about $584 million.

Continued growth

Zsolt Rumy, Zoltek’s Chairman and Chief Executive Officer, commented: “This transaction represents a great result for our shareholders, customers and employees. Toray provides unique opportunities to drive the continued growth of our commercial carbon fibres business well into the future.”

Zoltek Companies is engaged in the development, manufacture and marketing of carbon fibres for various applications, such as the primary building material in commercial products. © John Rees

In connection with the execution of the merger agreement, Zsolt  Rumy entered into a voting agreement with Toray, in which he agreed to vote his company stock, representing approximately 18% of the Zoltek’s outstanding shares, in favour of the merger.

Zoltek

Zoltek Companies is engaged in the development, manufacture and marketing of carbon fibres for various applications, such as the primary building material in commercial products.

Zoltek sells its commercial grade carbon fibres under the Panex trade name and our oxidized acrylic fibre under the Pyron trade name.

www.zoltek.com

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