RE:RE:When does this accounting negligence become a crime?The Zucker Family Trust is presently the largest shareholder of Nordex. The trust has net assets of USD$ 2.6 billion as of 2013. Jerry Zucker was a brilliant man who earned had degrees in several subjects including electrical engineering. He had patents granted for 3 D printing. Jerry managed to take over the Hudsons Bay Company in 2005. His wife became the first female governor of HBC after Jerry died in 2008 of a brain tumor. The JZT own or participate in quite a variety of quite well run companies. These include gas transmission companies, a coffee roasting company (Ten Peaks), ice hockey arenas (CanLan Sports) Circa Technologies etc. a form letter company (Supremex).
Your question is excellent. Why are they interested in tiny little Nordex Explosives? I can see several reasons. One is that Nordex indirectly uses natural gas. As you are probably aware nat gas is the number one building block of Ammonium Nitrate and AN Liquor. These are both basic components of Nordex' products. I know of 2 plants in Ontario which have moth balled their AN production towers. One is in Maitland, the other is near Courtright. Usually when the ZFT purchases shares in a company they begin to add value to it by combining another existing operation with the target company. If you read about the companies which I mentioned above you will see this. I believe the ZFT sees value in Nordex' products and is interested in combining Nordex products with a US based Explosives company. Or they wish to introduce Nordex' sales channel into the US market. Another possibility is that they will effect a takeover with the intent to sell the entire company to a major player. At the present price Nordex is trading for less than 2/3 of the cash they raised in November of 2012 when they issued 10,000,000 shares at $0.45. That was just the cash value and did not include any of the existing value of the plant or infastructure. At present Nordex is trading at a deep discount to its equity value.
Nordex needs to break away from their present suppliers because their costs are way too high. They need to get some of their excellent product into local mines. They need to have a line up of happy customers. They need to get out and sell their products on the basis that their products will save their customers time, money and will improve safety.
Vale should be one of their prime targets. The reason being that Vale had several deaths from the scaling activities which the Johnex product was specifically designed to prevent. Vale at one time was Nordex' best customer and at one time Nordex had 24% of their business.
B&D