MPG - Metro Performance Glass

[Shareguy]

No insider disclosures this year is very telling I think.

[Habitz]

MPG have responded to recent feedback on houses heating up and got new glass products for retrofitting (and new installs). They're doing good deals on some lines so we went with them which will be installed this week. It's not a house I live in so I'll post some feedback when I get to hear whether the occupants notice much difference. It's costing us 16k so they better bl**dy notice the difference hahaha

[Greekwatchdog]

MPG have responded to recent feedback on houses heating up and got new glass products for retrofitting (and new installs). They're doing good deals on some lines so we went with them which will be installed this week. It's not a house I live in so I'll post some feedback when I get to hear whether the occupants notice much difference. It's costing us 16k so they better bl**dy notice the difference hahaha

If your going from Single glazed to Double Glazed or to Low E then yes they will notice the difference. Of course if your getting new Aluminum with Thermal Break as well then they will likely complain its to hot.

[Habitz]

Metro could do a My Food Bag and have a sort recovery to get punters excited

I would put SKT Sky in that grouping after righting the ship it has no growth in customer numbers but sp doubled/trebled

[Habitz]

If your going from Single glazed to Double Glazed or to Low E then yes they will notice the difference. Of course if your getting new Aluminum with Thermal Break as well then they will likely complain its to hot.

Ordered Low E Excel to double glaze the existing ali joinery. Regarding what you are saying about new ali and thermal breaks, isn't it funny how Pete wolfkamp fronts all their adverts, he's big on building standards and yet the whole industry has completely missed the issues behind the nz hothouse debacle. There was an interview after 6pm on zb tonight.

[Greekwatchdog]

Ordered Low E Excel to double glaze the existing ali joinery. Regarding what you are saying about new ali and thermal breaks, isn't it funny how Pete wolfkamp fronts all their adverts, he's big on building standards and yet the whole industry has completely missed the issues behind the nz hothouse debacle. There was an interview after 6pm on zb tonight.

Cant comment as I didnt see it. There are many complications with the changes and the building industry is getting to complicated with all the changes which is why its so expensive to build. Anyway you will have a nice warm place.

[BlackPeter]

Here we go: Highly conditional takeover proposal at 8c per share - and the directors are pleased but worried it might not get through ;

https://www.nzx.com/announcements/443897

What an amazing wealth destroyer this company is / was? - wondering whether this is now the try to stay out of cemetery card for long suffering shareholders?

[Minimoke]

A couple of key caveats

Notwithstanding that due diligence would be undertaken on a strictly controlled basis, such due diligence completed by a competitor is inherently higher risk;

*Metro has previously determined that a combination of Metro and Viridian was unlikely to be approved by the Commerce Commission;

Given the hurdles and risks associated with the proposal, directors consider it unlikely that it will be in the best interests of shareholders to pursue the proposal.

$0.08 might be as good as it ever gets from this point on.

[Greekwatchdog]

LOL, what a joke. All its worth. They will gut it and consolidate it within there existing business. I imagine if there is anyone else interested they will now have to make a play.

[Shareguy]

Cant see this happening. Com Com will surely say no.  Both Takutai who have 10.9 percent (20.2M shares) and Masfen (20.7M shares) who has 11.2 percent will crystallize huge losses.

If we look at just Masfen who first disclosed 17/2/20 the share price that day was $.25 according to Yahoo and only generally went up from there going back.

Interesting that main competitor only prepared to pay $.08, which says a lot.

[winner (n)]

Fletchers lost interest years ago in acquiring this outfit

[winner (n)]

In 2006 private equity outfit Catalyst paid $350m for Metro ....buying out founders

Funded by debt and GFC bought Metro to its knees and was bailed out by another private equity out in Crescent plus others in an equity firm debt swap.

Crescent collected the best part of $300m when Metro was floated in 2014

Now Crescent back with an opportunistic offer to 'rescue' Metro again ....for a pittance but possibly taking on Metro debt

That's how things have played out with Metro over the years....gone from a hugely successful private company to the scrape heap twice

[Greekwatchdog]

Cant see this happening. Com Com will surely say no.  Both Takutai who have 10.9 percent (20.2M shares) and Masfen (20.7M shares) who has 11.2 percent will crystallize huge losses.

If we look at just Masfen who first disclosed 17/2/20 the share price that day was $.25 according to Yahoo and only generally went up from there going back.

Interesting that main competitor only prepared to pay $.08, which says a lot.

Viridian are not the main competitor. APG are who were MPG's main client are.. APG is owned by APL and have over 50% glass market.

[winner (n)]

Viridian are not the main competitor. APG are who were MPG's main client are.. APG is owned by APL and have over 50% glass market.

Viridian would biggest glass manufacturer in ANZ

As am aside did you know ex Metro boss Nigel Rigby is now with Viridian

[Greekwatchdog]

Viridian would biggest glass manufacturer in ANZ

As am aside did you know ex Metro boss Nigel Rigby is now with Viridian

I am only talking NZ W69. Thats the market APG screwed MPG on hence where they are today. People move both ways so no surprise.