TO Ram, Todd King, other posters.
There are some things that don't compute that are more important than
those talked about. First, how did Magyar go from this dog that the
government couln't wait to unload to this profitable entity. Mass
layoffs? I think not. Not in Europe anyway. If so, where are the
restructuring charges? This doesn't make any sense.
Second, the price of acrylic is based upon the price of oil with
processing added. Oil is sold in dollars world wide, ergo the
exchange rate is immaterial. It is further immaterial in that sources
say Magyar acrylic has yet to be seen in the US. The price may be
high or low, but it doesn't matter if you don't buy it.
Third, companies such as Amoco, Toray, Toho, Cortaulds, Hercules (Hexcel)
etc. have spent millions developing the right kind of acrylic for carbon
fibers. At $600K per year R & D expenditures, I would guess about the
turn of the next century, that's 2100, before any is acually seen here.
The only thing significant is what is the value of the Magyar investment?
Obviously worth less in dollars than before without adjustments for
business changes. What are the changes? No one knows as it was a
government run entity, talk about cooked books.
Regards, Jake |
