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Business

Zoltek, Quinpario Call A Truce

by Marc S. Reisch
April 8, 2013 | A version of this story appeared in Volume 91, Issue 14

Quinpario Partners, an investment firm founded by former Solutia executives, temporarily called off efforts to replace the board of carbon fiber maker Zoltek late last month. Quinpario, led by one-time Solutia CEO Jeffry N. Quinn, was pushing for a special shareholders meeting to install board members who could help the company improve its performance. A filing with the Securities & Exchange Commission said Quinpario and Zoltek were discussing a “mutually acceptable resolution.” Days after the truce was penned, the carbon fiber firm disclosed that it has hired investment banker J.P. Morgan Securities to explore “strategic alternatives to maximize shareholder value.”

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