2242749 Ont Ltd. AIIFF

RE:RE:Takeout target or Receivership?

[Thethruthhurts]

Both the eastern Canadian drainage business and precast business are ancient assets and barely produce compliant product. The paving stone and septic tank business do fill a niche however with the heavy investment in capital equipment by competitors the clock will strike midnight for it too in the very near future. The sound barrier fence was a gold standard but they too are under severe margin pressure. The Quebec assets are a disaster and only getting worse as the Charbonneau hearings continues. The Old Con-Force assets situated in western Canada are the best value points for Armtec. Margins are better out west and the company is better positioned to compete in the market place. There is very little talent left in Ontario for Armtec. Management is beaten and the sales groups are un motivated by the fool hearty management of the past 5 years. Long story short there is no value in the name and little Goodwill left in the business. It cannot be turned around in the current structure and the debt is too high because the group over paid for the companies they bought and they haven't invested in them so the assets keep pace against the competition. If someone has a silver bullet they should shoot this vampire and let the carnage stop. Sell the west as a bundle to groups that are making acquisitions out there and auction the east off to some sucker group that knows nothing about infrastructure products.