GREY:AIIFF - Post by User
Comment by
Thethruthhurtson Jul 15, 2014 9:43am
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Post# 22745852
RE:Are The Vultures Are Circling?
RE:Are The Vultures Are Circling?
I've heard the same as well with the key problem being the age of the assets in Ontario. Little if any capital has been INVESTED in the company since the blitz purchases by Armtec in August of 2008. An now we get the news release that YES we are hitting the covenant targets BUT.....we still want to borrow 7.5m for the summer. Good luck with that -- how about giving indications of where the money is coming from?? You're correct Glad that they should be focused on selling off assets during this time of year when people can go around and kick the tires and see what's left. Remember for disposal purposes Armtec has several bad deals from the past that haunt them. Durisol for example -- The company bought the business but not the building.