Tuesday, September 4, 2007

Everyone knows that most people don’t find gold in a gold-rush, but it’s the suppliers that make the fortunes. It’s the merchants that sold the shovels and jeans that made out in the California gold-rush of the 19th century and in the internet gold-rush of the beginning of the 21st it was companies like Cisco and Oracle. So, with a blossoming automotive industry in Russia, what companies are sitting in the cat-bird’s seat? One you may want to look at is called Magnitogorsky which recently acquired another steel company in the St. Petersburg region in order to give it access to a region that is geographically important to Russia’s automotive hopes and it will produce the type of high quality steel demanded by auto manufacturers. It is a 117 million dollar plant, the company in total had sales over 6 Billion with profits over 1 Billion. Additionally, the company’s stock has risen 16% since May 2007.

1 comment:

PENNY STOCK INVESTING said...

Always a gold ruch somewhere.