*AV*--For those that follow DY and MTZ, I just came across this from last night.
Thursday May 28, 9:08 pm Eastern Time
Company Press Release
SOURCE: MasTec, Inc.
MasTec, Inc. Announces Seven Acquisitions Since February 1998
MIAMI, May 28 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ - news) announced today that it has completed the acquisition of seven domestic telecommunications and other utility construction companies since February 1998. The seven U.S. acquisitions consist of Stackhouse, Inc. based in Goldsboro, North Carolina, C & S Directional Boring, Inc. of Purcell, Oklahoma, Lessard-Nyren Utilities, Inc. of Hugo, Minnesota, the assets of P & E Electric Co. of Nashville, Tennessee, Office Communications Systems, Inc. of Inglewood, California, Electronic Equipment Analyzers, Inc. of Raleigh, North Carolina, and Cotton & Taylor of Las Vegas, Nevada.
Jorge Mas, Chairman and Chief Executive Officer, said: ''Over the past few years, we have pursued an acquisition strategy that would provide us with the critical mass necessary to pursue our business at a higher level. These acquisitions provide us with the resources to provide our customers complete turnkey services on a regional and even national scale.''
Opening the Lines of Communication(R) worldwide, MasTec is one of the world's leading telecommunications and related infrastructure service providers, serving clients throughout the United States, Latin America and Spain. For more information, please visit our web site at www.mastec.com.
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It amazes me how a company with as big a backlog as they have AND the forward looking vision for growing their business could have fallen so low in price while DY is testing new highs this past week. I truly beleive that the recent disappointment in the MTZ business had to do with the death of its patriarch, El Nino(honestly), and some political turmoil in Spain. 3 unfortunate incidents within such a compressed timeframe. And if bad things occur in triplet fashion, all 3 bad things are behind them.<GG>
Andrew |
