i think i was wrong, page-45

jgunter99
Just my opinion but I don't think a third competitor can break the market. I was aware of 2 that tried in the West. One was a major steel recycler basically acting as a middle man.I am not saying it can't happen, just reminds me of the air line business. Every now and then a few cheap flight operators crop up, gives the impression there is competition and then they disappear within 5yrs.
Having said that, the processing side is competitive. The price of plasma and profiles is very affordable by alot of businesses, has been for several years. The aim is the one stop shop, could you be bothered bying the product from a competitor, transporting it to the processor and then onto the end customer. Not a hard task but many do it all at BSL and just pass on the cost to the customer. BSL is packed to the rafters with every imaginable steel and special steel products you could ever need. Also,I'm sure you are aware that MetalCorp is theirs. Some non profitable stores have been closed, as our SM said, they cost us money 5 minutes after they get off the phone, LOL. We leave them up to Bunnings(WES) or Midalia(OST).
BSL or OST? Obvious that OST has out performed BSL during the GFC etc. Only my opinion, but I prefer BSL in the long run. At the current SP it's definitely over sold and the kick up will have some 'catch up' behind it. I would not expect the AGM to say'It's all over folks, we're back to boom time profits from next week'. It reminds me of ColesVWoolworths, Coles is not down and out and slowly clawing it's way back. Woolworths may never lose the lead but I also don't expect Coles to ever lose 2nd place. OST and BSL in my opinion is a 2 horse race, but never say never!
As stated in previous posts, this is just my objective opinion. And as stated, BSL in the West is definitely committed to keeping it's head above water, still makes a profit, imagine if we didn't, those bad figures would be worse. I also realise that BSL is not just us, it has a myriad of businesses world wide that have a very major impact on it's bottom line. The point I was trying to make is that it's only been about 2.5 yrs since the reality of the GFC starting to set in, I sold BSL in June 2008 for about $11.85, not far off it's all time high. Today's price is definitely a shadow of it's former self, as other major companies face also. Long term can you really go wrong at $2, even if it(doubt it) ended in a take over. Two horse race companies don't get ACCC approval lightly.

I did not mean to offend anyone for their views but scare mongering is definitely not trading. :))