I am in the industry and since Dexion started it's acquisition...

I am in the industry and since Dexion started it's acquisition trail.Eg Elite/Godfrey/Precision)

It has grown from a $50million revenue to $240 Million revenue. This growth funded by debt (Nearly 60 million-nearly double market cap) and funding by shareholders funds.

IMHO they have literally been on a spending spree with no real regard of how it will all be put together.

They have shit on their traditional sales channels that were delivering market share and brand awareness.In essence they have forgotten about how to run what is really a fairly small company (least it is now).

55c x 64million shares = $35 millioncompany

They were worth more the day they floated.

I know a number of EX employees in the industry and I know how Dexion has treated them also.

All in all money their very very bad mangement has caused such a dramatic drop in both share price and market standing.

The retirement of brent fuller (long serving director with the vision)did not help as he knew how to properly run a company like Dexion

IMHO the appointment of Peter Framarkis to run dexion was a massive mistake. His only real knowledge being steel as in smorgons not steel as in steel storage9And no it's not the same).

IMHO Peter Framakis is really not the man to run a $35 million dollar company. remember he is used to a billion dollar company with thousand of employees.current management IMO will run Dexion into the ground and be paid for doing it.

Yes money the whole market has crashed. But not by the amount that Dexion has.

Dexion name in the industry is now mud.
Their service has gone to the lowest level possible.
As a down market seller i can tell you that the time frame to get anything from them is rediculous and the service is attrocious.

Tell me why? We have the resignation (or was he pushed) of Tim Threlfall.??(what do you really know???????).

The market is never wrong money, sometimes misguided but never wrong.

I remind you of a comment you made a few post ago about that distributor in western australia.

something along the lines of a pissy nobody. Well i have actually spoken to the companies managing director recently.

The brand (Profile) they were forced to bring into australia due to the termination of the precision distributorship by none other than Tim threfall and management is now a dominate brand throughout australia.

check out the web site
www.profilestorage.com.au

I belive Profile group have taken the contract for omax from the Dexion group- (precision used to have this contract) -(this is worth many millions). Profile have also secured government contracts which would have been Dexions....

This is just one example of Dexions arrogant management of what they used to have as distributors. Got to tell you the company in the West were scathing of the Dexion group and how they were treated by them.

Dexion think they can own the retail and wholesale channels in Australia and Newzealand. All they have done is weaken their brand allowing many competitors to move into the void they created by buying (Elite, Precision,Godfrey)

you now have to name a few - these brands are gaining market share.

Profile (new brand)
Statewide
Bosco
Lions
Steelco
Europlan
as well a many others...

(Dexions are losing market share)

I hve heard that Steelco is setting up in NewZealand to take on Precisions dominance and also that Europlan are selling profile in NewZealand.

Hmmmmmmmm doesn't look that great for dexions growth in this market.......

And what have management told any of us in recent weeks....Have we even been officially advised of their commercial managers resignation...Have they bothered to reavaluate their EPS estimates...My 7cent mining company keeps me better informed...

Ok i have ranted enough...

have a great Christmas everyone ....And be wary of bad management

All opinions in the above are my own and not to be taken as gospel, any figures quoted are from my memory and should be checked.

I am not a shareholder of Dexion.

I am in the industry and have sold their product.