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Gold/Mining/Energy : ARCTIC GROUP AGP-ASE
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To: Jim Bishop who wrote (48)6/13/1998 12:58:00 PM
From: Ice-Man  Read Replies (2) of 101
 
Back in December 97 when AGP announced total annualized sales of $21M with the most recent acquisition at the time the shares hit $2.90. Now with $65M in sales the shares are at $3.25?ÿÿÿ Short term I don't think it matters what the share price does because long term the Arctic Group story is sounding better & better. I've always liked the fact that the CEO Robert Nagy has about 28 years experience in the ice business. He knows the industry & the players in it. Now as Hugh mentioned this new CFO adds a piece to the puzzle.ÿ His last four years or so at ACK-TSE look real impressive. While he was at ACK I think sales went from around $150M to about $850M.ÿ Through consolidation earnings for ACK grew steadily & shares went from $4 to $18 over that time.ÿ No matter what kind of business. It's the people behind the business that make or break the business.

Looks like the other two U.S. ice co. consolidators have become one.ÿ Packaged Ice Inc. has officially bought the ice biz from Suiza Foods.ÿ They've done more junk bond financingÿ ($170M U.S. worth) to do the deal.ÿ That debt to equity ratio is looking rather ugly for the new Packaged Ice Inc.ÿ Here's a link from the U.S. securities & exchange filings on the deal.ÿ Interest expenses seem to be the biggest cash/profit drain on this the only other packaged ice consolidator.

edgar-online.com;

Good Trading,
Markus
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