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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (30858)	5/7/2008 3:56:05 PM
From: E_K_S	Read Replies (2) \| Respond to of 78652

Followed you in for a little bit of RIO for the reasons you stated. Very hard to buy this company since my last buy in was 6/07. The stock has since then, split and doubled in price. It is hard to find other Brazil/Latin American public companies that offer a pure play in Brazil. What I have discovered is that there are many smaller private companies located in Brazil and/or Argentina that are consolidating/merging and or being bought by foreigners. America Latina represents several smaller companies that were recently merged together w/i the last 24 months. Tenaris SA (TS) is one such name tenaris.com . In the last decade, they have successfully expanded their business through a series of strategic investments. They operate a worldwide network of seamless steel pipe operations with manufacturing facilities in South America, North America, Europe and Asia and an annual production capacity of over three million tons of seamless steel pipe products, compared to 800,000 tons in the early 1990s. Tenaris SA (TS) may offer a value opportunity with a forward PE of 12. finance.yahoo.com They are the leading supplier of welded pipes for gas pipeline construction and industrial applications in South America. They supply welded steel pipes to selected gas pipeline construction projects in South America including those from Petroleo Brasileiro (PBR). Finally they are building out their production capacity in Agentina and Brazil by putting into operation a sucker rod plant in Brazil and acquiring and revamping an existing bar mill located in San Luis. This will allow them to meet new pipe demand for this region. EKS