AlphaCenturian
30-07-2004, 12:52 AM
After todays action ITF has clearly signalled that with FCL as its 50% shareholder they are not going to be sitting around watching the trees grow.
They sure as eggs wont have taken the 20% holding in FEA at 48c for the dividends - especially at a substantial premium to the market and in announcing the merger with West Assie timber processing business they will be have complete vertical integration for value adding just like GNS (minus of course the psuedo-corruption that feeds ultra-low cost old growth forest to GNS in Tassie courtesy of the old boy network.)
Certianly worth putting on the radar gents.
They sure as eggs wont have taken the 20% holding in FEA at 48c for the dividends - especially at a substantial premium to the market and in announcing the merger with West Assie timber processing business they will be have complete vertical integration for value adding just like GNS (minus of course the psuedo-corruption that feeds ultra-low cost old growth forest to GNS in Tassie courtesy of the old boy network.)
Certianly worth putting on the radar gents.