SPARTECH (SEH) - AN UNDISCOVERED GEM Message Board

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Non-Tech : SPARTECH (SEH) - AN UNDISCOVERED GEM

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To: Paul B. who wrote (53)	3/13/1999 8:55:00 PM
From: Paul B.	Read Replies (1) of 66

The Post-Dispatch ran a small article on Spartech after their annual meeting. Here are the relevant parts. "Bradley Buechler, chief executive and president of Spartech Corp., picked up the additional title of chairman Wednesday. Buechler, 50, said he would receive no additional compensation as chairman. Spartech is one of the country's largest makers of plastics. Sales are expected to hit $750 million this year. Much of the company's growth has come through 10 major acquisitions since l993. Buechler tod the 50 shareholders who had gathered at the St. Louis Club that he expected to continue to buy other plastics processors. He noted that 85 percent of the nation's 2000 plastics companies have annual sales of less that $50 million. To free up money for such purchases, the company recently sold $50 million of convertible preferred securities to four insurance companies. Buechler boasted that Spartech was recently named by CFO magazine as one of the top five cost containers in the plastics and rubber industry, based on selling, general and administrative costs. The company is benefiting from an average 8 percent drop in the price of raw material compared to last year. Buechler said he expects the price of resin to remain relatively low for the next three years. The company is now concentrating on lowering manufacturing costs. Already, it has installed robots and other manpower-saving machinery in some of its 39 plants. Spartech said it would join the growing list of companies that sell stock directly to small investors. Up to $10,000 in stock can be purchased this way each month. Spartech also said it would move about May 1 from the Pierre Laclede Center to slightly larger offices in the Clayton Center, 120 South Central Avenue."

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