I know they just purchased a nitrogen supplier to petroleum industry. Anyone recall what the two other purchases are?
Analyst Al Kaschalk of Wedbush Morgan maintains his "buy" rating on AMCOL International Corp (ACO.NYS), while raising his estimates for the company. The 12-month target price has been raised from $32 to $33.
In a research note published yesterday, the analyst mentions that the company has closed three acquisitions over the last 2 months, which are expected to drive operating leverage in its businesses. AMCOL International�s board has authorized a $15 million share buyback programme through November 2008, the analyst says. The EPS estimates for 2006 and 2007 have been raised from $1.55 to $1.56 and from $1.75 to $1.83, respectively.
AMCOL International (NYSE: ACO) Minerals Subsidiary Announces Acquisition of Unimin Corporation Customix Blending Facilities ARLINGTON HEIGHTS, Ill., Oct. 2 /PRNewswire-FirstCall/ -- AMCOL International Corporation (NYSE: ACO) today announced it has acquired Unimin Corporation's Customix metalcasting blending facilities. The blending facilities are located in Belvidere, Ill., Archbold, Ohio and Wadsworth, Ohio.
Gary Morrison, American Colloid president, said, "The acquisition of these sites further advances our ongoing commitment to these regions by providing us with facilities from which we can serve the customer base with high quality products. This transaction provides American Colloid Company added capacity and greater flexibility in dealing with vendors and transportation providers."
Larry Washow, AMCOL president and chief executive officer, added, "The Unimin Customix business is a natural fit for American Colloid Company. These facilities give American Colloid Company access to a broader customer base as well as operating resources to serve them more effectively."