MPG - Metro Glass

[Beagle]

They're looking to work with private development companies to build massive amounts of cheap housing. In this market that means either going up and building apartments or going out and opening up huge amounts of land and building cheap prefabricated square / rectangular standardized box type houses. To get the price they're looking to achieve the best solution probably lies with an overseas supplier and lets face it the N.Z. building industry is hamstrung by a cozy duopoly of suppliers which results in exorbitant building material prices including windows. I believe its the price point that matters most to this Govt not where the materials come from, but as with all things time will tell.

[crighton100]

With the MPG share price so low,I wonder if a larger company would consider a takeover {FBU would be able to integrate it into its stable & they use heaps of windows here & in Aussie].

[winner69]

With the MPG share price so low,I wonder if a larger company would consider a takeover {FBU would be able to integrate it into its stable & they use heaps of windows here & in Aussie].

No doubt is on their list of potential acquisitions. Maybe not inclined to do such things at the moment

Fletcher’s were keen on Metro about 10 years ago but were ‘outbid’ by private equity (Catalyst) who paid an outrageous $366m for them. The eventual demise of Metro was inevitable at that price and only restructuring and a big haircut saved the company.

Also as CSR own Metro’s competitor in Viridian Fletcher’s might see the need to have glass company in their stable.

[crighton100]

Winner I was very impressed with your response [did not know how deep your knowledge went on the forum in respect of this company].I was thinking of selling my largish holding at a profit but might hang on for a bit.Thank you

[bull....]

my 90c guestimate worked out well , no point being greedy dog might bite

[janner]

my 90c guestimate worked out well , no point being greedy dog might bite

All dogs bite.. Depends on your pain level... A dog is a dog..

In and out on this one.. Very quickly ..

[Master98]

https://www.nzx.com/announcements/311891
CEO is leaving...

[BlackPeter]

https://www.nzx.com/announcements/311891
CEO is leaving...

Well, nobody can accuse him on "leaving on a high".

The Board will be commencing an international recruitment process immediately.

“We’re looking for a leader who appreciates the totality of our business and our unique place in the NZ and Australian building sectors. We have a team of committed and motivated people and it will be important for our incoming CEO to build on the expertise inherent in the business and the momentum that Nigel has built to date.“

Ouch - are we sure we want the new CEO to keep the momentum that Nigel has built going? And are we sure that MPG needs as well a highly expensive CEO from overseas? (S)he might not be better, but will be more expensive for sure. Maybe a Kiwi with knowledge of the local market (and the company), some fresh ideas and lower salary expectations could do as well?

[JeremyALD]

Well, nobody can accuse him on "leaving on a high".


Ouch - are we sure we want the new CEO to keep the momentum that Nigel has built going? And are we sure that MPG needs as well a highly expensive CEO from overseas? (S)he might not be better, but will be more expensive for sure. Maybe a Kiwi with knowledge of the local market (and the company), some fresh ideas and lower salary expectations could do as well?

Good news to me - Chairman and CEO gone in what has been a shambles. Now for just a few other board members to join them in what needs to be a massive clean out. What a messy company this is...

I just wonder what he's going to do with all his shares now??? lol

[winner69]

Glad that some of you have got your wish about the CEO leaving (or getting the boot who knows)

Feel sorry for Nigel .....wasn’t him who set shareholders expectations so unrealistically high ....so he was set up to be a failure in their eyes.

At least he got duly rewarded by the previous owners pre IPO for getting the company to the state where they could float it off to a excited punters with those glossy presentations about a fantastic future .......and the punters fell for it lock stock and barrel.

Hope your new million dollar man does a better job.