Are they glass cutters or aluminum cutters? Metro would've done a fair chunk of the glass cuting on some of those projects. Alutech would've wrapped APL's aluminum profiles around it.
Lots of fingers in the pies
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Hard to say precisely, but they call themself a window supplier. You could be quite right that Metro may be the one that might have done the glass cutting.
On their website it says:
"Alutech Windows & Doors Limited is a privately owned Canterbury Company with over 30 years service to the New Zealand market. We are foremost a commercial window supplier but also cater to high end residential, architectural and multi unit developments. We have supplied windows to many areas in New Zealand as well as China, the Maldives and Fiji."
Either way the players in the industry don't seem to be doing well.
I'm not familiar with Alutechs structure but I do know "Metro Glass worked with Alutech Windows & Doors Ltd on the structural glazed windows that sit behind an angular screen of anodised aluminium and sun louvres". On the Te Ara Ātea Library
Window and door companies are generally sellers of complete window joinery units. They buy extrusions off a supplier like APL and make up the window box. Glass companies like Metro will supply the glazing unit to be fitted to the frame. The complete units are then supplied to the construction firm. There are many fingers in between this too.
You can imagine the squeeze placed on margins when you are but one link in a wholesale chain...
Wonder if Metro are owed much by this Alutech
As an aside Trade Receivables have increased a lot over the last 12 months …up 50%
I see Metro listed as a creditor in Alutechs liquidators report
Trade Creditors about $6m and stuff all chane of anybody getting anything by sounds of it
Fixed price contracts and contractors deducting amounts for remedial work given as reasons for going broke
Hope Metro not in for too much and have 'provided' for what it may be already
Hits keep coming.
They seem to be doing the right things now:
- cost cutting drive
- increase in prices
With the recession coming, as per the RBNZ, will it be enough to offset the drop in revenue?
Increasing prices in a slumping market wont do much to save the day
It may drive potential customers to the competitors circling
Trimming the expensive wood in middle upper levels responsible for the current state of affairs may be more effective, similar to trimming off the rotten and diseased wood from a tree ;)
there must be a fairly sizeable intangibles impairment hanging in the wind somewhere ;)
I used to see the Metro truck EVERY day on the drive to work.
Saw it a couple of times last week, 1st time for a while.
Didn't see it today.
Dunno what that all means.....:sleep: