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Stock Market & Financial Investment News

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January 11, 2013
10:22 EDTZOLT, VWDRYZoltek jumps after Vestas gets approval for credit facilities
Shares of Zoltek (ZOLT), which develops, manufactures and markets carbon fibers, are higher in morning trading, following an overseas advance in the stock of one of its major customers, Vestas Wind Systems (VWDRY). Vestas shares trading on the Nasdaq OMX Copenhagen exchange rose as much as 9.4% today, according to Bloomberg, which attributed the move up to Chinaís plans to boost wind energy, which may raise prices, along with creditors approval of the turbine makerís lending facilities. In its 10-K filing from November, Zoltek stated that in its fiscal 2012, the company reported net sales of $86.6M to Vestas Wind Systems, which represented 46.5% of Zoltek's net sales. In early morning trading, shares of Zoltek advanced 26c, or 3.23% to $8.32. Reference Link
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