Phil Jobe has come in and done a great job turning this business around. This why he was appointed and he has shown the fortitude to initiate the change required. Recapitalisation, reduction in staff closing of the George Street office and initiating the anti dumping case to name but a few. Although the later would have had little or no impact on the result announced last week. If the announcement last week is taken into consideration as well as the results of other extruders in Australia then it is hard to believe that injury to the local industry (Capral) has occured due to imported products. There is plenty of requirement for extrusions in Australia. If the local industry was under siege why would a NZ extruder open a local press? The local extruders Capral, GJames, Ullrich, Extrusion Australia etc all appear to be in a very strong position. This is good for local manufacturing.
CAA Price at posting:
32.0¢ Sentiment: LT Buy Disclosure: Not Held
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