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Strategies & Market Trends : China Direct, Inc. - Building a Portfolio of Emerging Chines

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From: Glenn Petersen	8/8/2008 11:27:23 PM
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Gene Marcial on China Direct: China Direct: A Magnesium Bet China Direct (CDS) isn't your run-of-the-mill company: The Deerfield Beach (Fla.) outfit does business in China through China-based companies in which it has controlling stakes. "It's one of the fastest-growing companies in the U.S.," says President Marc Siegel, who owns 17% of China Direct. "Earnings jumped from $169,000 in 2006 on sales of $14 million to an estimated profit of $26 million in 2008 on $320 million." China Direct now controls eight Chinese companies, including four that process magnesium, used in metallurgy and manufacturing. China produces 80% of the world's magnesium; China Direct's share is 15% of that output, says Otis Bradley of Gilford Securities. He rates the stock, now at 7.30, a buy. Global Hunter Securities' Ping Luo says magnesium will drive growth for Direct (a client) and sees the stock at 13 in a year. Unless otherwise noted, neither the sources cited in Inside Wall Street nor their firms hold positions in the stocks under discussion. Similarly, they have no investment banking or other financial relationships with them. —Gene Marcial businessweek.com

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