Zoltek (NYSE:ZOLT) manufactures and sells commercial-grade carbon fiber and oxidized acrylic fiber. The company’s carbon fiber is used primarily to build the blades on wind turbines. Its oxidized acrylic fiber, termed “technical” fiber by Zoltek, is used primarily to build aircraft brake pads. Zoltek is a relatively small company in the carbon fiber industry, compared to industry giants like Cytec Industries (CYT) and Hexcel (HXL); in 2009 its total revenues were $138 million, and its net loss was $4.2 million.

Traditionally Zoltek supplied most of its products to the aircraft industry. To diversify its product line away from the aircraft market, where it is a small player, Zoltek has expanded into niche markets like wind energy, which has been a driver behind Zoltek's sales increases. As of 2009, Zoltek is a long-term turbine blade provider for the top two pure-play producers of wind turbines in the world, Vestas and Gamesa.^[1]

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