ADF Group Inc T.DRX

Alternate Symbol(s): ADFJF

Steel Steel

ADF Group Inc. is a Canada-based company. The Company is engaged in the design and engineering of connections, fabrication, including the application of industrial coatings, and installation of complex steel structures, heavy steel-built ups, as well as in miscellaneous and architectural metals for the non-residential infrastructure sector. Its products and services are intended for the five principal segments of the non-residential construction industry: office towers and high-rises, commercial and recreational buildings, airport facilities, industrial complexes, and transport infrastructure. The Company operates two fabrication plants and two paint shops, in Canada and in the United States, and a Construction Division in the United States, which specializes in the installation of steel structures and other related products. It has the capacity to manufacture approximately 125,000 tons of structural steel annually.

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ADF Group Inc

Bullboard Posts

Post by SurfForWealthon Dec 31, 2002 8:35am

136 Views

Post# 5717693

What's up?

I have bought into this stock recently a couple times, average $2.10, feeling the sell off is over done. Yet it continues to drop on high volume. Using the Dec 19 ER balance sheet, I calculate a Book Value (with no goodwill) of $160M, yet the Market Cap is down to $40M giving a P/B of .25. I realize there are outstanding issues around debt coverage but this seems ridiculous to me. Even with further write downs, the current share price decline seems much over done. Can anyone explain why the constant selling? TIA Cheers!!!

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