Exhibit 99
[ZOLTEK logo]
FOR IMMEDIATE RELEASE NASDAQ NMS SYMBOL: "ZOLT"
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ZOLTEK WINS MAJOR CONTRACT
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FOR REINFORCING CONCRETE WITH CARBON FIBER
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ST. LOUIS, MISSOURI -- JANUARY 17, 2005 -- Zoltek Companies, Inc.
today reported that it has signed a multiyear supply agreement with TechFab,
LLC that marks the start of commercial shipments of carbon fiber for an
application of considerable potential: the use of carbon fibers as a
reinforcing material that will add strength and provide dramatic weight
savings in concrete components and structures that are far less bulky than
conventional steel-reinforced structures.
Using Zoltek carbon fiber, TechFab, LLC of Anderson, South
Carolina, has developed a patented carbon reinforcing grid (known as
C-GRID(TM)) that can deliver up to seven times the tensile strength of steel
reinforcement by weight. That allows designers and engineers to build
streamlined structures from precast concrete that are just as strong as
conventional steel reinforced sections, but weigh less than half as much
with improved corrosion resistance, durability and insulation properties. In
addition, the reduced weight contributes to lower shipping and erection
costs, and possible substructure savings. New architectural, industrial and
residential precast products incorporating C-GRID are now possible.
"This is a commercial application for carbon fibers with
significant growth potential," noted Zsolt Rumy, Zoltek's Chairman and Chief
Executive Officer. "Zoltek has been our primary fiber supplier and advocate
from day one," said John Carson, Director of Commercial Development and
Program Leader for C-GRID technology at TechFab. "We are pleased to have
them as our partner going forward in providing a better way to build with
precast."
ALTUSGroup, a partnership of five of the nation's leading precast
concrete producers (with combined revenues of more than $1 billion), has
begun a nationwide marketing and sales campaign for CarbonCast(TM) concrete
structures made using C-GRID reinforcement.
CarbonCast components, which usually replace secondary steel
reinforcement with C-GRID, are "lighter, stronger and more durable than
conventional precast." The AltusGroup promises coast-to-coast availability,
consistent quality and uniform design standards regardless of project
location.
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[ZOLTEK logo]
Zoltek Wins Major Contract For Reinforcing Concrete With Carbon Fiber
Page 2
January 17, 2005
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FOR FURTHER INFORMATION CONTACT:
ZSOLT RUMY, CEO OR KEVIN SCHOTT, CFO
3101 MCKELVEY ROAD
ST. LOUIS, MO 63044
(314) 291-5110
This press release contains forward-looking statements, which are based upon
the current expectations of the Company. Because these forward-looking
statements are inherently subject to risks and uncertainties, there are a
number of factors that could cause the Company's plans, actions and actual
results to differ materially. Among these factors are the Company's ability
to: re-activate its formerly idle manufacturing facilities on a timely and
cost-effective basis, to meet current order levels for carbon fibers;
successfully add new capacity for the production of carbon fiber and
precursor raw material; execute plans to exit its specialty products
business and reduce costs; achieve profitable operations; raise new capital
and increase its borrowing at acceptable costs; manage changes in customers'
forecasted requirements for the Company's products; continue investing in
application and market development; manufacture low-cost carbon fibers and
profitably market them; and penetrate existing, identified and emerging
markets. The timing and occurrence (or non-occurrence) of transactions and
events that determine the future effect of these factors on the Company, as
well as other factors, may be beyond the control of the Company. The Company
undertakes no obligation to update any forward-looking statement to reflect
events or circumstances after the date of this press release.
Zoltek is an applied technology and materials company. Zoltek's Carbon Fiber
Business Unit is primarily focused on the manufacturing and application of
carbon fibers used as reinforcement material in composites, oxidized acrylic
fibers for heat/fire barrier applications and aircraft brakes, and composite
design and engineering to support the Company's materials business. Zoltek's
Hungarian-based Specialty Products Business Unit, which the Company is
pursuing plans to exit, markets acrylic fibers, nylon products and
industrial materials.
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