Gurit Receives USD 21 Million of Damage Payments from Zoltek

22 February 2009

Gurit has confirmed receipt of a USD 21 million of damage payment from Zoltek.

Following the denial by the United States Court of Appeals for the Eighth Circuit of Zoltek's petition for rehearing on December 2, 2008, the United States district court enforced Zoltek's appeal bond on February 3, 2009, and ordered that Zoltek pay the outstanding judgment plus interest. Gurit has now received some USD 23.5 million.

This payment follows a successful lawsuit by Gurit to enforce a 10 year contract for large filament count carbon fibre supplies.

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