NCI Building Systems Inc. (NCS) reported that holders of more than 99% of the aggregate principal amount of its outstanding 2.125% Convertible Senior Subordinated Notes due 2024 have delivered valid tenders. This exceeds the threshold of 95% minimum condition to the offer.   NCS has obtained or expects shortly to obtain the consent of lenders representing 100% of its secured debt for the refinancing of its existing credit facility. Full consent is a requirement for the completion of the company’s investment agreement with Clayton, Dubilier & Rice Fund VIII, L.P. ("the CD&R Fund").   Earlier, on Oct 9, NCS announced that it had finalized with its lenders terms for a $125 million asset-based revolving credit facility with an additional $50 million accordion feature, and that the company had confirmed participation from lenders for the full availability under the facility. The asset-based revolving credit facility, which has the same ...

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DrStockPick.com Watch List!

My Picks for Monday October 19, 2009, are:

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NCS, NCI Building Systems Inc.

NCS manufactures and markets metal products for the nonresidential construction industry in North America.

The major milestones for the completion of NCS’s investment agreement (which includes a $250 million equity investment) with a fund managed by Clayton, Dubilier & Rice (CD&R) have been achieved, and that NCS anticipates closing the transaction as early as October 20, 2009.

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NVNC, Novo Energies Corporation, NVNC.OB

NVNC’s mission is to enter the renewable energy sector by developing and implementing renewable energy solutions while maintaining its commitment to conserve energy, natural resources and

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DrStockPick.com Watch List!

My Picks for Monday October 12, 2009, are:

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NCS,NCI Building Systems Inc.

NCS manufactures and markets metal products for the nonresidential construction industry in North America.

NCS has made further progress toward completing its previously-disclosed refinancing, which includes a $250 million equity investment by a fund managed by Clayton, Dubilier & Rice.

Once effective, the refinancing will significantly reduce NCS’s debt and provide substantial flexibility in the current economic downturn as well as the resources to support future growth.

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SNWT, San West Inc., SNWT.OB

SNWT designs, manufactures, sells and repairs off-road buggies, and additionally provides aftermarket performance products and accessories for off-road

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Worthington Industries Inc. (WOR) recently reported fiscal first-quarter results. The company said GAAP net income slumped 90.2% year over year to $6.7 million, compared to $68.6 million in the year-ago period. Excluding restructuring charges, adjusted earnings per share came in at 11 cents, which topped the Zacks Consensus Estimate by 7 cents. Worthington is a diversified metal processing company focused on steel processing and manufactured metal products, such as metal framing, pressure cylinders, automotive past- and current-model year service stampings as well as metal ceiling grid systems and laser-welded blanks. The company operates 63 manufacturing facilities across 10 countries supported by 6,400 employees. During the quarter, net sales plunged 54.3% year over year to $417.5 million as a dramatic decline in demand from key construction and automotive sectors led to a slump in volumes across all segments. The Steel Processing segment’s sales slipped 60.5% year ...

Within China, the support of the central government can make or break a company. This is simply a necessary evil. If a company can garner favor with the correct people and secure support, the opportunity for profit is all but assured.

China Wind Systems Inc., a supplier of forged metal products to the wind, textile and industrial complex of China, works to provide rolled rings and other forged products primarily in Wuxi City, China. The company has recently completed construction of a state of the art manufacturing facility where it plans to focus its attention on the wind power aspect of the company’s business.

To understand the value of this company one must understand the commitment that the Chinese government is lending to the wind industry and, more to the point, its overall economy and “recovery.” The general perception that the Chinese economy needs recovery is misleading. To begin with, falling from

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“Reliance Steel & Aluminum Co. [RS: 39.95, -0.05 (-0.12%)] is one of the largest metals service center companies in the United States. Though a network of more than 200 locations in 38 states, Belgium, Canada, China, Mexico, Singapore, South Korea and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of more than 100,000 metal products. These products include galvanized, hot-rolled and cold-finished steel, stainless steel, aluminum, brass, copper, titanium and alloy steel sold to more than 125,000 customers in a broad range of industries. Some of these metal service centers provide processing services for specialty metals only.”

The challenge for Reliance, and all other metal service centers, is that lower demand for steel and aluminum is expected to continue through the first half of 2009. Perhaps, we will see the beginnings of a pick-up in demand by the end of the

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blockquoteThe highly open Czech economy is set to slow down considerably, affected by the deteriorating outlook for its main trading partners. Although GDP growth was still solid in Q3 2008, both exports and imports growth slowed significantly. The global crisis is expected to adversely impact the real economy particularly from the fourth quarter of 2008. Overall, GDP is expected to have grown by 4.2% in 2008 with a strong contribution from the external balance.br /EU Commission Forecast January 2009/blockquotepAnalysts and followers of the Czech economy are basically agreed on two things at the moment: that the Czech is slowing (and rapidly), and that the dependence on car exports is a real achilles heal at a time when a generalised credit crunch means that the financing which is needed for people to make car purchases often quite simply isn’t there. Beyond this point opinions differ. Some expect the slowdown to end …

NCI Building Systems Inc. (NCS) is one of the largest integrated manufacturers of metal products for the North American non-residential construction industry. Starting in late October, the company implemented an approximate 20% workforce reduction and four plant closings. On December 10, the company reported fourth quarter EPS of $1.26, above our estimate of $1.09, due to strong operating performance in the Coating and Components segments as well a reduction in SG&A expenses as a percentage of sales. Also, In FY08, capital expenditure was reduced to about $25 million from $42 million in FY07. We rate shares of NCS a Hold.We have valued NCI Building Systems using the P/E valuation metric and forward earnings estimates. We applaud the company's move to cut costs. Our target price is $16.25.Read the full analyst report on NCS ...

The Estonian recession continues to deepen, month by month. The most recent evidence comes to us in the form of a decline in both Estonian retail sales and industrial production, which fell in each case for the fifth consecutive month in September, leading us to expect the rate of GDP contraction to accelerate further in Q3.

Retail Sales Fall An Annual 8%Retail sales, excluding cars and fuel, fell by an annual 8 percent in August, the largest such decline registered since at least 2001. This follows a 6 percent in August. The year on year chart (see below) couldn't be clearer.Sales were also down month on month (ie with respect to August), this time by a non seasonally adjusted 7%. In fact, on a seasonally adjusted basis retail sales peaked in February 2008, and have been trending down

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History of Zinc (from International Zinc Association, (http://www.iza.com/uses.html) Centuries before zinc was discovered in the metallic form, its ores were used for making brass and zinc compounds, its ores were used for healing wounds and sore eyes. It is believed that the Romans first made brass in the time of Augustus (20 B.C. - 14 A.D.). In the 13th century Marco Polo described the manufacture of zinc oxide in Persia. At Zawar, India, both zinc metal and zinc oxide were produced from the 12th to the 16th century. From India, zinc manufacturing moved to China in the 17th century where it developed as an industry to supply the needs of the brass industry. In 1743, the first European zinc smelter was established in Bristol in the United Kingdom. A major technological improvement was achieved in Germany which led to the erection of ...