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Strategies & Market Trends : Value Investing
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To: Graham Osborn who wrote (57634)7/30/2016 12:17:48 AM
From: Spekulatius1 Recommendation

Recommended By
Jurgis Bekepuris

  Read Replies (3) of 78768
 
CETX looks suspect to me too. I looked at bit at the company since it is located very close to where I live.

The company seems to be run exclusively by folks from Indian decent - this goes down to the middle management level. A Lot of the, have very lightweight resumes, including the CEO and the director of engineering. The three directors (again all of Indians decent, some coming from the same school) are all with a financial/hedge fund background.

They went into the EMS business,which is one of the toughest business there is. Prior to CETX owning them, the German ROB EMS went through a bankruptcy in 2013 and then was purchased by CETX out of bankruptcy. It seems that the purchase was financed by a loan from a German "Sparkasse", which are local government owned banks (I suspect they were lenders to ROB before they went into bankruptcy, because generally Sparkassen don't lent to foreign entities.).

Interesting case, and I think the company has a lot of yellow flags. I can't tell if there is fraud, but it certainly doesn't look like something I would invest in.
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