Infrastructure companies are obviously hurting in this low-construction environment, but a new day may be right around the corner. At least $850 billion (minus the money that goes to lawyers) will soon flow forth from Washington, DC, in order to help rebuild roads and bridges.
Ok. So why is Lafarge, the big French cement firm reportedly shopping its North American businesses?:
Aggregate Reserach: Lafarge North America Inc. is actively seeking buyers for some sectors of their business operations in North America. Speaking on condition of anonymity, a company representative has indicated that large slices of their operating sites may be put up for sale. The recent downturn in the economy has made business conditions difficult, with cement sales down over 20% in the USA alone in 2008.
Again, why sell now? A bet, perhaps, that the stimulus package won’t be quite as stimulative as people think?
(HT: Mark Kuhar)
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