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A holding company primarily engaged, through its operating subsidiaries, in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker.
They have a stagering 20 BILLION in debt. Some of it due in December 2009. I do not know how these FOOLS keep recomending this company. The stock has lost almost 75% this year alone !!!They just announced 2 months ago that they lost 711 million USD in derivatives !!! I do know but I find highly unlikely that the stock price will go back to the 20's, heck it will be though for it to climb above the mid 10's.
You try building without cement buddy, they will rebound for sure, yes there refinancing looks precarious but they are too dominant in a vital industry
I agree with you. The main point here is that the management vision was shortsighted and too ambitious, and management is still intact, the same Directors as of today, what do you think will happen? IT should not be recomended
I dumped this stock in 2005 because management was only concerned with becoming the largest cement company in the world. Their debt is killing them and they have had to shed productive assets to cover and therefore have reduced their ability to generate revenue. I do not know why this continues to be a recommended stock. It will trade with the general market for at least the next four years. Yes cement demand will increase over time, but not to the level of 2007 for a long while. Prices have been falling because once you make cement, you have to sell it. It doesn't store well.
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