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The Company through its subsidiary, is engaged in the manufacturing of hot-rolled steel sheets used in the construction of small agricultural and vehicles.
Sell, sell, sell!! This company is very mismanaged, big time loser.
Can you give me more information.Why would'nt a Chinese Steel Co. work.
Iron Ore is becoming harder and harder to get to, It is costing companies more and more to mine it. PVC has come a long way in the last 20 years, it won't be long until PVC is the new steel.
Okay, I'll agree with Pvc as the new steel but not in the next year.If you read their balance sheet the .80c pr/sh loss was due to one time impairments.I was hoping to sell next qtr when profits should be high.Just saw an interveiw with a private security ceo on happy hour. He basically was paid to rescue 3 americanbusinessmen kidnapped by the Chinese Gov. What happened was they filed for ch 11 and could not paytheir suppliers. There is no such thing as Ch 11 in China.So anytime your dealing with a communist regime you are taking risks.I just want more info before I bail on the stock.Thanx.
Business Week ( I think, may have been in the Wall Street Journal) had a great article some time back (at least 2 yrs. ago) in the article the CEO (I don't remember if it the current one now or not) wolud not answer any direct questioning about the structure of the company. I remember the interviewer compared this co. to Enron, because of the way people were being mislead as to actual profits. The CEO really looked foolish. I will try to resurect the article and post a link to it.
Marshal82, did you find the article?I gave this company a hesitant green thumb a while back, but since then, it's financials have gotten worse and worse. I still think that infrastructure in China is a good long term play, but I have doubts about this company at the moment. As for PVC being the new steel, I have serious doubts about this happening any time soon. The inherent physical properties of PVC just do not lend itself to replacing steel.
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