This might help the over capacity for machine manufacturers, but it sure doesn't help the average print company who are or will be looking at improving their efficiency through the purchase of new sheetfed technology.
Why is that 69? Do you know something we don't and can you share?
This move surely isn't to try help them rebuild the business. I think it's more likely that it's to break it up for sale to allow backers to get some money back. I hope for BS workers and their families they will be honest with proceedings.
I tend to think your right IW. Investors aren't tending to take risks with their money on floating companies at the moment. And those who really do their homework probably wouldn't be entering into our industry right now. But there is nothing like a take over/ buy out/ merge, to up a business's value. Could also be backers are looking to cash up. They probably know something we don't about other or both businesses. Also the article mentioned those dirty words "private equity". Does any one know both companies financial results for last year?
For all that is said about GEON, they take home a lot of awards
OOOH. That's gotta hurt BS bottom line.
$84 000 000! Bs loss for fy11.
Old article! Still interesting though when looking at the difference between GEON and BS. Would like to know if Glen took any BS clients with him.
Their next Chief will probably need to come from inside. They can't waste time bringing some one up to speed. Either that or, someone from outside will be put on place by major shareholders with a tight deadline to show they are heading in the right direction as far as reducing their debt, or dress the place for selling. The banks won't waste more money on this place, that they have already shown. And they won't waste much more time either I don't think. The bondholders money is probably the last life line. Losing a managing director at such a time like this, to me means, he was pushed, or, time and money has run out and he laid on his own sword to save face.
Since the vote, are fellow employees following Chris's lead? Have there been a number of key factory staff leave?
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