A pipe forming company headquartered in Brantford with plants in US and Europe. Annual revenues of approximately $100 million with a current market capitalization of $4.5 million.
This thread has been established to act as a focal point for due diligence and short term trading comments. The current situation is highly volatile and best stated by their latest news release:
Eagle Precision granted protection from creditors
Eagle Precision Technologies Inc EGL
Shares issued 4,616,590 1999-11-09 close $3.95
Wednesday Nov 10 1999
Mr. A. Alex Kepecs reports
An order was made earlier today granting protection under the Companies' Creditors Arrangement Act (Canada) (CCAA). The order stays all proceedings with respect to obligations existing as at Nov. 10, 1999, and authorizes the company to file a plan of compromise or arrangement, implementation of which would require the ultimate approval of the company's creditors and the court in accordance with the CCAA. PricewaterhouseCoopers Inc. was appointed the monitor under the order. The company decided to take this action in order to address its financial difficulties, provide fair and equitable treatment for all its stakeholders, and facilitate the development and implementation of a comprehensive restructuring plan. The company intends to continue operations during the proceedings.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
WARNING: This stock is extremely volatile and not for the inexperienced investor |
