re: breakout Depends upon what figures Nylex decided to supply Huon. Seeing Nylex is a comglomerate, it is very easy for dud businesses to be hidden amongst those units that are performing well.
Huon should have done their due diligence more effectively. Pitcher Partners doing due diligence on an ASX listed manufacturer, I'm pretty sure that they don't have many ASX listed clients.
Huon should have got one of the Big 4 accounting firms to check out the figures and I'm sure they would have said "buying a dud in a dud industry".
Certainly anyone with any knowledge of the automotive manufacturing sector would know that the industry is struggling with cheap Asian imports, high petrol prices and the reduction in sales of the large passenger vehicle new car market.
re:on the move, page-30
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