GREY:AIIFF - Post by User
Post by
Thethruthhurtson Nov 13, 2013 1:25pm
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Post# 21902280
No hope of recovery for Armtec
No hope of recovery for Armtec
It was good to see that analysts can see through the guff that spews from the Guelph Ontario offices of Armtec. The numbers are weak and will only get weaker. The sector is dominated by well managed quick moving companies that know how to get work and adapt to the demands of the market. Armtec's value peaked when they were awarded the 47million dollar contract to build the segments for the TTC Spadina line expansion into York Region. Within months of contract award Armtec parted company with the consultant that poisitioned the company to successfully bid for the job. At this point their ranking with the transit agency has fallen drastically and the backlog in Ontario is reflective of that fact. The poly pipe the company produces is amongst the earliest patterns every developed and regarded by the industry as well below standard compared to what the competition produces. The concrete side of the business lacks the product depth to secure jobs with a varied product mix. They have changed management somewhat but the continue to bring in people that lack industry and sector specific knowledge. Long gone are the salad days of big wins for this group. IF you believe in the Infrastructure Sector find a group that knows what they are doing and has a passion for the business. These guys are masters of the shell game and will be split up and sold before too long. #armtec #arf #concreteproducts #poorlyruncompany #classaction #pipe #polypipe #csp