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Saturday, February 17, 2007


WBRBY, WIENERBERGER BAUSTOFFINDUSTRIE AG, website, sec, yahoo, chart, Sponsored Amer Dep Rec; (representing 1/5th Ord sh)

Wienerberger bricks, roofing tiles, pavers. #1 worldwide in hollow bricks, #1 in facing bricks in Europe, #2 in facing bricks in US, etc. They sell to Western and Eastern Europe and the US. Revenues have been increasing fairly consistently. Roughly 10% net margins. Reasonable return on assets for that size company.
Balance sheet is about half equity. Earning roughly 73 cents per ADR. The ADRs are selling at around $12.50. Probably under full value, but I have no idea about how sustainable their growth is.
will probably never be cheap enough (but who knows?)

WCSTF, WESCAST INDUSTRIES, INC., website, sec, yahoo, chart, Class A Com (No Par)

Westcast, the exhaust manifold leader. I had followed them years ago. If there's a really bad automotive downturn, this might get interesting.

WEBC, WEBCO INDUSTRIES, INC., website, sec, yahoo, chart, Com (1 Cent)

Went dark June 2005. Website has financials. Steel tubing and other industrial stuff. Q1 ending Oct 2006: Low gross margins, but reasonable operating margins. Earned $2.91 diluted in Q1. Full year: Earned $7.53. Revenue up 4%. Dependent on the cost of steel. 12% gross margin, down due to higher steel costs and competitive pressures. Prior year they earned nearly $25 per share. Big capex. Stock price is under $80.
Worth following

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