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Non-Tech : ZOLT
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To: flyguy who wrote (73)12/3/1996 11:47:00 AM
From: flyguy   of 970
 
To all: Zoltek to provide fiber for GM NGV tanks.

According to Performance Materials newsletter, Zoltek is going to provide EDO of Canada carbon fiber for the GM natural gas vehicle program (3/4 ton NGV pickups for government use). I think this is the key thing that the buyers of the secondary were keying on. This is very interesting for two reasons:

1. Toray is a 40% shareholder of EDO Canada.
2. EDO has announced that they are going to divest their share of EDO Canada due to the skittish nature of the natural gas vehicle market.

IMO, this GM program is the beginning of the hype to convince individual investors to buy into ZOLT. This will allow the institutions who bought shares to unload them at a high price, then the bad news will come. As for the NGV market, EDO is currently under intense scrutiny due to two burst failures of NGV tanks in California include one fatality. GM actually cancelled all their NGV programs last year, so I am confused as to if this will be a real program or not.

Also in this issue of PM was a profile on RK Carbon of Scotland. Apparently they may be acquired by SGL/Sigri of Germany ($3 billion carbon anode company) and are planning major expansions in both Scotland and the US by 1998. RK is claiming to be larger than Zoltek but smaller than Akzo offering 46K to 480K fibers with 2.5 million pounds of oxidized PAN and 1.5 million pounds of carbon fiber capability.

More details to come as I find them.
Flyguy.
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