The first quarter of 2015 proved a lively financial period for public and would-be public heavy building materials operators, who commanded investor attention the world over.
Tag: Precast Concrete Solutions
Capital structure likely dooms major Canadian precaster in its current form
Sources: Armtec Infrastructure Inc. Concord, Ontario; CP staff
Toronto Stock Exchange-traded Armtec Infrastructure reports $474 million in 2014 revenue, up $18 million or 4 percent from the prior year, with Precast Concrete Solutions and Drainage Solutions business units accounting for $313 million and $161 million, respectively. The moderate financial performance is cited against the bleak backdrop of a challenging capital structure; significant debt levels; restrictive debt covenants; and, a nearly $47 million decline in market enterprise value during the fourth quarter of 2014.
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