ACX has three divisions, largely unrelated except as suppliers to Coors:
- Graphic Packaging ..... manufactures value-added packaging products.
- Coors Ceramics ......... largest independent U.S. ceramics company.
- Golden Technologies .. owns majority stake in Golden Genesis (GGGO).
The company was spun off from Adolph Coors in December 1992. In order to concentrate on divisions with better growth potential and less cyclicality, the operations of Golden Aluminum were discontinued in 1996. The developmental stage investments that had comprised Golden Technologies are currently being wound down; the main focus of that division is now the solar energy business of GGGO. The Packaging division has been expanding through strategic acquisitions, the most recent one being Universal Packaging, effective January 1998.
The stock is now selling at an all-time low P/E based on 12-month forward EPS projections. Provided that earnings come in close to expectations, ACX shares appear to be significantly undervalued.
Their website is at acxt.com
Does anyone follow it? Comments are welcome. |
