Zoltek Announces Closing Of The Merger With Toray Industries, Inc.
28 2월 2014 - 10:28PM
FOR
IMMEDIATE RELEASE
ST. LOUIS, MISSOURI - February 28, 2014 - Zoltek Companies, Inc.
(Nasdaq: ZOLT) (the "Company") today announced that it had
completed the merger contemplated by the Agreement and Plan of
Merger (the "Merger Agreement") with Toray Industries, Inc.
("Toray"). The Company and Toray announced the execution of the
Merger Agreement on September 26, 2013.
Under the terms of the
Merger Agreement, Toray acquired all of the Company's outstanding
shares for $16.75 per share in cash, for a total equity value of
approximately $584 million. As a result of the merger, the Company
became a wholly-owned subsidiary of Toray and will operate as a
separate business unit.
J.P. Morgan Securities
LLC served as financial advisor to the Company. Thompson
Coburn LLP served as counsel to the Company in connection with the
transaction.
* * *
This press release contains certain statements
that constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The
words "expect," "believe," "goal," "plan," "intend," "estimate,"
and similar expressions and variations thereof are intended to
specifically identify forward-looking statements. Those statements
include statements regarding the intent, belief or current
expectations of us, our directors and officers with respect to,
among other things: (1) our financial prospects; (2) our growth
strategy and operating strategy, including our focus on
facilitating acceleration of the introduction and development of
mass market applications for carbon fibers; and (3) our current and
expected future revenue. This press release also contains
statements that are based on the current expectations of our
company. You are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. The factors that might cause such differences
include, among others, our ability to: (1) successfully adapt to
recessionary conditions in the global economy and substantial
volatility in order rates from our wind energy customers, including
our principal customer Vestas Wind Systems; (2) penetrate existing,
identified and emerging markets, including entering into new supply
agreements with large volume customers; (3) continue to improve
efficiency at our manufacturing facilities on a timely and
cost-effective basis; (4) successfully add new planned capacity for
the production of carbon fiber, prepregs and precursor raw
materials and meet our obligations under long-term supply
agreements; (5) operate profitably; (6) increase or maintain our
borrowing at acceptable costs; (7) manage changes in customers'
forecasted requirements for our products; (8) continue investing in
application and market development for a range of applications; (9)
manufacture low-cost carbon fibers and profitably market them
despite fluctuations in raw material and energy costs; (10)
successfully operate our Mexican facility to produce acrylic fiber
precursor and carbon fibers; (11) successfully continue operations
at our Hungarian facility if natural gas supply disruptions occur;
(12) successfully prosecute patent litigation; (13) successfully
facilitate adoption of our carbon fibers by the auto industry for
use in high-volume applications; (14) establish and grow prepreg
capacity; (15) speed development of low-cost carbon fiber sheet
molding compounds for the automotive industry pursuant to our
global collaborative partnership with Magna Exteriors and
Interiors; and (16) manage the risks identified under "Risk
Factors" in our filings with the SEC. Because forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified, you should not rely
upon forward-looking statements as predictions of future events.
The events and circumstances reflected in the forward-looking
statements may not be achieved or occur and actual results could
differ materially from those projected in the forward-looking
statements.
For further
information contact:
Andrew Whipple, CFO
3101 McKelvey Road
St. Louis, MO 63044
(314) 291-5110
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Zoltek Companies, Inc. via Globenewswire
HUG#1765426
Zoltek (NASDAQ:ZOLT)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Zoltek (NASDAQ:ZOLT)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024