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A steel company in America, produces and distributes a range of semi-finished and finished steel products, including value-added steel products.
TX was a monopoly producer of steel in Venuzwela, not a major part of it is under the thumb of Chevaz who looks to become a dictator, and who basically wants it nationalised or run below real costs. It has some more minors ops in other countries, but most of its value is locked up under Chevaz in SIDOR.Things have changed recently for TX, in a big way and not for the better - the problem is all the value investors just look at its long term past and think its bargain. The past few months have seen the directors goto Chevez and beg for some crumbs from SIDOR. Things may pick up in other markets on S.A so it's not all bad - but its looking pretty overvalued from here.
Hard to take this pitch seriously after it mentions "Venuzwela".
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