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PPS up just under 2% to $7.85 after a mixed earnings release...lots of upside...holding.
Looks like earnings out AHs...over 30% decrease eps...some features good though...
Doubled down at $7.55 - appears to have finished forming the double bottom...and up we gooooooo......
Thanks so CC 28th...very good. I will perhaps buy some more...don't have that much and see upside...especially because earnings could give a nice pop...
Quarterly CC from the company website:
______________________________________________________
Third Quarter 2013 Results Conference Call
Oct 28, 2013 at 11:00 AM ET
Registration is required to listen to this webcast.
* Fields Are Required
________________________________________________________
Posted because some erroneous info being posted elsewhere that the CC is on the 25th.
ICA
ICA has an increasingly large short position which might be part of the rapid decline today:
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
9/30/2013 3,747,971 482,949 7.760594
Read more: http://www.nasdaq.com/symbol/ica/short-interest#ixzz2iZUwokX9
ICA
I bought at $6.86; why, because they are the largest construction company in Mexico and they own a piece of the airports...only reason...did not buy much...I think it will go up past $14 eventually...was above $25 for a while...the corruption in Mexico scares me...that is why I did not buy much...
I bought a small position at $6.86 and will double down if it goes well below that...something is happening today for this many people to sell...could be HF paying media to pump stock so they can exit into something better like FNMA FMCC.
Investing In Emerging Markets: 6 Mexican And South Korean Stocks
BY Kapitall | 10/22/13 - 05:11 PM EDT
Kapitall has ICA as Strong Buy:
http://www.thestreet.com/story/12078657/2/investing-in-emerging-markets-6-mexican-and-south-korean-stocks.html
ICA
I will sell breaking 200 ma...hold if we stay above...buy if we break $9.85...
DC turmoil over. Lets resume rise...look to break 9.85 with target 13
Ok folks get ready to break 10...14 round the corner too...this is too much fun!
8.73 close 8.2.13 ... MORE TO COME...WATCH N LEARN...SOON OVER TEN!
BROKE $8 LEVEL AND SOON IT WILL BE $13 AND ABOVE. GO $ICA$
ICA UP 4.53% to $7.84
Looks like I will not be doubling down today anyway...I think the speculators are looking for this to rise with the new Presidents promise to increase infrastructure spending...
I bought some at $6.86 and still holding...not too many shares...this could go either way, but I am guessing down for today...I agree really tough to read, plus the projections on infrastructure increase in spending up till 2015...I bought in at that level to average in to get my fill...I need double the shares to get my goal core amount...would like to see it drop into the fives...
Anything would be a pure guess. I find the results hard to read. While generally positive, I'm concerned with this statement, "Consolidated 2Q13 revenue was Ps. 8,208 million, a decrease of 13% from Ps. 9,460 million in 2Q12. Construction revenue decreased 30% as a result of the transition to new projects."
I sold on the 15th of July and had been watching for a place to re-enter. Will watch the pre-market trades. if any. What is your take?
ICA
So what is your guess for tomorrow?
Empresas ICA Announces Unaudited Second Quarter 2013 Results Join our daily free Newsletter
MENAFN - - 7/26/2013 6:51:12 PM
Empresas ICA Announces Unaudited Second Quarter 2013 Results
MEXICO CITY, July 26, Jul 26, 2013 (Menafn - GLOBE NEWSWIRE via COMTEX) --Empresas ICA, S.A.B. de C.V. (bmv:ICA) ICA, the largest infrastructure and construction company in Mexico, announced today its unaudited results for the second quarter of 2013.
Summary for the Second Quarter
Significant revenue growth and margin contribution from the Concessions and Airports businesses underpinned ICA's results in the second quarter of 2013. These reflect the start of operation late last year of four new concessions and the continued growth of air passenger traffic. In addition, Construction revenue and margins rebounded significantly from first quarter levels, as several of ICA's new projects moved into the construction phase. At the same time, new contracts and contract additions increased construction backlog.
ICA announced two strategic transactions during the quarter, as part of our business model. The sale of the investment in the RCO tollroads and the sale of a portion of our shares in OMA generate more than Ps. 7,800 million in cash for ICA. The RCO transaction generated a net gain of Ps. 498 million in 2Q13 results. The OMA transaction will be recognized in the third quarter. The resources from these transactions increase ICA's financial flexibility, allowing us to reduce short-term debt and position us to take advantage of new infrastructure opportunities in Mexico and abroad.
The announcement of Mexico's Transportation and Communications Investment Program in mid-July as part of the National Infrastructure Plan provides greater visibility on the opportunities for new contracts. The increase in backlog also corroborates ICA's previously announced outlook for the year for both revenues and Adjusted EBITDA.
Consolidated Results6 months
Ps. million2Q122Q13% Chg 20122013% Chg
Revenues9,460 8,208(13)18,968 15,117 (20)
Operating Income8211,9191341,6382,51453
Consolidated Net Income (Loss)199(345)(273) 1,185(82)(107)
Net Income (Loss) of Controlling Interest 170(501)(394) 991(337)(134)
Adjusted EBITDA1,480 2,234512,8863,34416
Operating Margin8.7%23.4%8.6%16.6%
Adjusted EBITDA Margin15.6% 27.2%15.2%22.1%
EPS (Ps.)0.28(0.82) (393) 1.64(0.55) (134)
EPS ADS (US)0.08(0.25) (400) 0.49(0.17) (135)
-- Consolidated 2Q13 revenue was Ps. 8,208 million, a decrease of 13% from Ps. 9,460 million in 2Q12. Construction revenue decreased 30% as a result of the transition to new projects that are just getting underway, while Concessions and Airports revenues grew 109% and 15%, respectively.
-- The Adjusted EBITDA margin reached 27.2%, as a result of the start of operation of several concessioned projects in the Concessions segment, the gain on sale of RCO, and increased contribution from the Airports segment in the quarter.
Key IndicatorsDec-12 Jun-13 % Chg
Construction: Backlog32,734 37,087 13
Contracted Mining Services8,1666,221(24)
-- Construction backlog as of June 30, 2013 was Ps. 37,087 million, 13% above the level as of December 31, 2012. ICA also has long-term mining and other service contracts for Ps. 6,221 million. In addition, non-consolidated affiliates and joint ventures have Ps. 9,630 million in construction backlog.
-- Comprehensive financing cost was Ps. 2,461 million in 2Q13 as a result of an exchange loss of Ps. 1,254 million as a result of the depreciation of the peso, a higher level of debt to finance projects, and the fact that interest expenses for concessioned projects that enter into operation are no longer capitalized.
-- Consolidated net loss was Ps. 345 million, and net loss of the controlling interest was Ps. 501 million. The net losses were principally the result of the exchange loss mentioned above.
Key Indicators2Q122Q13% Chg 20122013% Chg
Concessions: Highway traffic, ADTV17,866 30,840 7317,889 27,564 54
Airports: Passenger traffic (thousands) 3,0383,20865,9346,2385
-- Construction contributed 66% of consolidated revenue and 17% of Adjusted EBITDA in 2Q13.
-- Concessions contributed 25% of consolidated revenue and 65% of Adjusted EBITDA in 2Q13.
-- As of June 30, 2012, ICA's Concessions segment was participating in 18 projects, including ten highways, five water projects, two social infrastructure projects, and one port. Of these, eleven were in full operation, and seven under construction.
-- Airports contributed 10% of consolidated revenue and 17% of Adjusted EBITDA in 2Q13.
The complete earnings report is available at http://www.ica.com.mx/ir
Conference Call Invitation
ICA's conference call will be held on Monday, July 29, at 10:00 am Eastern Time (09:00 am Mexico City time). To participate, please dial toll-free (855) 826-6151 from the U.S. or 1 (559) 549-9841 internationally. The conference ID is 18615628. The conference call will be Webcast live through streaming audio and available on ICA's website at http://www.ica.com.mx/ir
A replay will be available until August 5, 2013 by calling toll-free (855) 859-2056 from the U.S. or 1 (404) 537-3406 internationally, again using conference ID 18615628.
This press release may contain projections or other forward-looking statements related to ICA that reflect ICA's current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA's businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA's most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit www.ica.com.mx/ir
CONTACT: For more information contact:
Iga Wolska
iga.wolska@ica.mx
Elena Garcia
elena.gracia@ica.mx
relacion.inversionistas@ica.mx
(5255) 5272 9991 ext.3696
Gabriel de la Concha, CIO
gabriel.delaconcha@ica.mx
Victor Bravo, CFO
victor.bravo@ica.mx
In the United States:
Daniel Wilson, Zemi Communications
(1212) 689 9560
dbmwilson@zemi.com
(C) Copyright 2013 GlobeNewswire, Inc. All rights reserved.
_____________________________________________________________
http://www.menafn.com/44ef9ec3-414e-4dec-9229-c90c06e3942c/Empresas-ICA-Announces-Unaudited-Second-Quarter-2013-Results?src=main
ICA
Reuters is reporting Mexicos president to infuse 300B into infrastructure by 2018 which is good for ICA. I like the 58% ownership of airport which provides 6% of revenue. Missed earnings this past Friday. Will be watching close tomorrow. What is your call?
Been accumulating in the 6 level since June 11...looking for it to go over $13...too much good news on this one...
Low volume day, but ICA is trading up >4%. Approaching six week high.
ICA
Low volume day, but ICA is trading up >4%. Approaching six week high.
ICA
Intra-day chart showed a buy for 500,000 shares at $7.50 at approximately 12:50 today. Not sure what it means, but hopefully indicates big money believes $7.50 to be a bottom price.
ICA
ICA upgraded by Citigroup:
http://www.analystratings.net/stocks/NYSE/ICA/?Source=ARNDaily
ICA
Empresas ICA SA (ADR) (ICA): Emerging-Market Growth at Discount Domestic Prices
By THE MOTLEY FOOL in News
Published: June 25, 2013 at 12:02 pm
It's been said plenty of times that our neighbor to the south is home to a burgeoning, debt-light economy that offers emerging-market growth with an element of domestic risk and valuation. China is very much "last season" when it comes to manufacturing, and Mexico offers a fantastic answer, with geographical superiority and an eager work force. One company based in Mexico, Empresas ICA SA (ADR) (NYSE:ICA), is a heavy-construction firm with a market cap of $1 billion that was as recently as April worth nearly $2 billion. The causes for the haircut includes a collapsed deal and lousy first-quarter earnings. But with a strong outlook for Mexican infrastructure spending, and an apparent case of market negligence, Empresas ICA SA (ADR) (NYSE:ICA) might be an undervalued pick with substantial upside potential.
Grow Mexico
Recently elected Mexican President Enrique Pena Nieto holds infrastructure investments as a top priority for his administration. In fact, his proposed 5% of GDP plan represents one of the largest national undertakings in more than 20 years. Using current projections (recently revised down) of 3.5% GDP growth, Mexico should have a GDP of $1.196 trillion. Five percent of that amount, $59.79 billion, is theoretically allocated toward infrastructure improvements -- 12% of which is directly allocated to transportation enchancements.
Empresas ICA SA (ADR) (NYSE:ICA) is the largest construction company in Mexico. Now, that doesn't mean $7 billion will be funneled into the company this year, but it's useful as an illustration of the macro environment supporting Empresas. Even more so, considering the company's stock price was nearly cut in half over a period of eight weeks.
The Mexican government plans on a buildout of a new rail system for 1,000 miles, thousands of miles of road improvements, new airports, and ports.
Beaten
Empresas ICA SA (ADR) (NYSE:ICA) showed some poor numbers in its first-quarter earnings, with a 31% drop in revenue, year over year. The company was also set to sell its homebuilding segment to Servicios Corporativos Javer, a huge private builder -- sending the stock down another 10 points.
Macro events, of course, can't dictate the entirety of an investment thesis. Empresas ICA SA (ADR) (NYSE:ICA) has a so-so balance sheet, with more than $3.2 billion in long-term debt and just $608 million in cash. On the flip side, the company generated nearly $387 million in free cash flow last year, indicating that it should have little trouble meeting creditor payments.
In addition to its operating cash flows, the company recently sold its nearly 19% stake in Red de Carreteras de Occidente -- the rights holder and operator to nearly 500 miles of highway in Mexico. The deal will give the company roughly $380 million as part of its asset recycling process.
For a quick comparison, take a look at U.S.-based MasTec, Inc. (NYSE:MTZ), which trades at just under 13.75 times forward earnings yet holds a more conservative balance sheet and is a good bit larger at a market cap of $2.34 billion. While MasTec, Inc. (NYSE:MTZ) is building out its operations in Canada, Empresas offers potential outperformance by virtue of its market dominant position in Mexico.
Read more at http://www.fool.com/investing/general/2013/06/24/emerging-market-growth-at-discount-domestic-prices.aspx#fr1lEwa4biGmSVjB.99
________________________________________________________
ICA
Empresas ICA (ICA) to Postpone OMA (OMAB) Series B Seconadry Offering
June 25, 2013 4:52 PM EDT
Empresas ICA, S.A.B. de C.V. (BMV: ICA) (NYSE: ICA) and Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (Nasdaq: OMAB) announced today that ICA has elected not to conclude and to postpone the registered public offering of OMA's Series B shares by Aeroinvest, S.A. de C.V., ICA's indirect wholly owned subsidiary, because of market conditions.
ICA reiterated its solid financial position and stated that despite meeting strong demand, global market volatility in the past weeks led to the decision to postpone the offering.
___________________________________________________________
http://www.streetinsider.com/Corporate+News/Empresas+ICA+(ICA)+to+Postpone+OMA+(OMAB)+Series+B+Seconadry+Offering/8448437.html
ICA
OMA and ICA Announce Extension of Lock-Up Period Related to Global Public Secondary Offering of 82.6 Million OMA shares
Empresas ICA S.A. de C.V. ADS
MEXICO CITY, June 20, 2013 (GLOBE NEWSWIRE) --
Empresas ICA, S.A.B. de C.V. (BMV:ICA) and (NYSE:ICA), the largest infrastructure and construction company in Mexico, and Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (Nasdaq:OMAB); (BMV:OMA), announced today that in connection with the underwritten secondary public offering of OMA's Series B shares, without par value, directly or in the form of American Depositary Shares (ADSs), currently held by Aeroinvest, S.A. de C.V. (Aeroinvest), ICA's indirect wholly owned subsidiary, that commenced on June 7, 2013, Aeroinvest has agreed to lengthen the term of its lock-up period (pursuant to an underwriting agreement to be signed on the date of pricing of the offering) from 90 days to 365 days from the date of the pricing of the offering. Pursuant to such lock-up provision, Aeroinvest would agree, for a period of 365 days from the date of pricing of the offering, subject to certain exceptions, to not, without the prior written consent of Merrill Lynch, Pierce, Fenner & Smith Incorporated, the offering's global coordinator and joint bookrunner, directly or indirectly, sell, dispose of or hedge any Series B shares or ADSs or any securities convertible into or exchangeable for Series B shares or ADSs.
This report on Form 6-K is hereby incorporated by reference in the registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission on May 15, 2013 (SEC File No. 333-188624).
This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate," "guidance" and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters, although not all forward-looking statements contains these words. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to various factors, including (with respect to ICA) material changes in the performance or terms of its concessions, ability to obtain additional debt or equity financing on attractive terms, developments in legal proceedings, economic and political conditions and government policies in Mexico or elsewhere, inflation and exchange rates, regulatory developments, and customer demand and competition; and (with respect to OMA) governmental regulations governing airport operations, airport concessions, and maximum rates, air traffic volumes, U.S. and global economic activity, fuel prices, terrorist attacks, factors affecting Mexican tourism, and tax claims asserted by municipalities. These and other risk factors are set forth in ICA's and OMA's most recent filings on Form 20-F and in any filings or submissions the companies have made with the SEC subsequent to their most recent filings on Form 20-F. All forward-looking statements are based on information available to ICA and OMA on the date hereof, and neither ICA nor OMA assumes any obligation to update such statements.
About ICA
Empresas ICA, S.A.B. de C.V., is Mexico's largest construction and infrastructure operations company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, lCA is listed on the Mexican and New York Stock exchanges.
About OMA
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, operates 13 international airports in nine states of central and northern Mexico. OMA's airports serve Monterrey, Mexico's third largest metropolitan area, the tourist destinations of Acapulco, Mazatlán, and Zihuatanejo, and nine other regional centers and border cities. OMA also operates a hotel inside Terminal 2 of the Mexico City airport. OMA employs over 1,000 persons in order to offer passengers and clients, airport and commercial services in facilities that comply with all applicable international safety, security standards, and ISO 9001:2008. OMA's strategic shareholder members are ICA, Mexico's largest construction and infrastructure operations company, and Aéroports de Paris Management, subsidiary of Aéroports de Paris, the second largest European airports operator. OMA is listed on the Mexican Stock Exchange (OMA) and on the NASDAQ Global Select Market (OMAB).
CONTACT: For more information contact
ICA
Victor Bravo, CFO
vbravo@ica.mx
Gabriel de la Concha, CIO
gabriel.delaconcha@ica.mx
relacion.inversionistas@ica.mx
+52 (55) 5272 9991 ext.3696
OMA
Jose Luis Guerrero Cortes, CFO
jlguerrero@oma.aero
+52 (81) 8625 4300 ext. 308
In the United States:
Daniel Wilson, Zemi Communications
+1 (212) 689 9560
dbmwilson@zemi.com
___________________________________________________
http://www.stockhouse.com/news/usreleasesdetail.aspx?n=8912549
ICA
Came within pennies of the yearly low and snuck outside the lower BB, but has recovered nicely. Maybe that's all it took (double bottom?).
ICA
Sure does. Really thought it had bottomed. Don't know whether to hang on or sell for loss.
Technically still looks OK. Over-sold RSI, CCI and Wm%R. Other indicators remain mildly positive and the BB's are tightening for a big move. I had bought primarily as a technical play on a major company which was down. Suppose part of what we are seeing is a reflection of the overall market.
ICA
ICA Executes Definitive Agreement to Sell Stake in Red de Carreteras de Occidente (RCO)
MEXICO CITY, June 20, 2013 (GLOBE NEWSWIRE) --
Empresas ICA, S.A.B. de C.V. (BMV:ICA) and (NYSE:ICA), the largest infrastructure and construction company in Mexico, announced the signing of a definitive agreement to sell its 18.7% stake in Red de Carreteras de Occidente, S.A.B. de C.V. (RCO), the concessionaire for approximately 760 km of highways in Mexico to funds managed by Goldman Sachs.
ICA expects to receive Ps. 5,073 million for its investment and to continue operating the highways. The transaction completes an asset recycling process initiated in 2012.
The transaction is subject to customary closing conditions and approval by the Ministry of Communications and Transportation and the Federal Competition Commission.
Alonso Quintana, ICA's CEO, said, "The sale of ICA's investment in RCO is a clear example of our strategy of selective recycling of capital in our asset portfolio and creating value for ICA's shareholders. The proceeds are expected to be used to pay short-term corporate debt that was used to accelerate the completion of projects, as well as to complete funding the equity commitments for the new concessioned projects. We are significantly strengthening our financial position."
Conference Call Invitation
ICA management will hold a conference call today, Thursday June 20, at 11:00 am Eastern Time (10:00 amMexico City time) to provide additional information and background regarding this announcement. To participate, please dial toll-free 855-370-4217 from the U.S. or +1-559-549-9841 internationally. The conference ID is 99406679. A replay will be available until June 27, 2013 by calling toll-free 855-859-2056 from the U.S. or +1-404-537-3406 internationally, again using conference ID 99406679.
Empresas ICA, S.A.B. de C.V. is Mexico's largest construction and infrastructure operations company. Founded in 1947, ICA's principal lines of business are civil and industrial construction and engineering; infrastructure operations, including airports, toll roads, and water systems; and homebuilding. For more information visit www.ica.com.mx/ir.
This press release may contain projections or other forward-looking statements related to ICA that reflect ICA's current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws affecting ICA's businesses, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms and other factors set forth in ICA's most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.
CONTACT: For more information contact:
Iga Wolska
iga.wolska@ica.mxElena Garciaelena.garcia@ica.mxrelacion.inversionistas@ica.mx
(5255) 5272 9991 ext.3696
Gabriel de la Concha, CIO
gabriel.delaconcha@ica.mxVictor Bravo, CFO
victor.bravo@ica.mx
In the United States:
Daniel Wilson, Zemi Communications
(1212) 689 9560
dbmwilson@zemi.com
Read more: http://www.nasdaq.com/press-release/ica-executes-definitive-agreement-to-sell-stake-in-red-de-carreteras-de-occidente-rco-20130620-00423#ixzz2WlHkXcXx
_______________________________________________________
ICA
From my understanding there was an RS here a while ago
Company is maybe struggling w cash so they dilute
ICA, ready for new projects: Quintana
BUSINESS • JUNE 17, 2013 - 6:05 A.M. - INTERVIEW BY PATRICIA TAPIA
INTERVIEW .
Highway program, between what is most important, says the CEO of the company, in terms of energy is capable of resolving challenges if Pemex is open longer.
Photo: Jorge Carballo
BERNARDO QUINTANA, CEO OF ICA.
Mexico • Awaiting a National Infrastructure Plan (NIP) ambitious and aggressive for this administration, ICA, the construction company more representative of the country, is ready to tackle much-needed projects Mexico, told MILLENNIUM Bernardo Quintana Isaac, CEO of the firm.
When asked if ICA will be key in the federal government's plans in infrastructure, Quintana Isaac was convinced to be, to be 65 years working in depth on the subject. "We try to be competitive, to maintain our capabilities and our technical construction procedures of the most advanced in the world. "
Expressed interest in continuing up the Mexican economic growth to continue being a force, with ability to compete in any global project, both the country and international companies, so this year will have the same job as in 2012.
"We're hoping to come and tendering opportunities we can take advantage ... I have the experience of both good and bad circumstances in project engineering and construction, and my experience can be useful for future projects done, and become better, more timely, with good quality, care for the environment and sustainability. "
Kawage Quintana Alonso, CEO of ICA-son of Bernardo said that what is most important to the company within which already announced Enrique Peña Nieto, is the highway program, which is to continue forming vertical and transverse axes in Mexico, eg highways century, linking the state of Puebla with the road to Acapulco and Tuxpan to Tampico.
"We are going to be studying all, our model of business is to get in this early stage of the project to structure, finance, build and operate, and when ripe is where we will be thinking get out, because we are not a fund we can keep a portfolio of mature assets, but we have to recycle capital to enter new they need all this development, "said Quintana Kawage.
He explained that, only in 2013, ICA will spend about a thousand 500 million dollars in long-term projects, including highway-Apaseo Palmillas Grande-the-beltway south of Querétaro, Oaxaca and two roads, one going to the area industrial Salina Cruz and another to the tourist area of Huatulco, which is the Long Canyon to Window.
ICA Being one of the few companies that have left the country, it also seeks to raise its stake abroad. "We can not rely any more of Mexico, have important skills that help us to export this way of doing things, we see no major projects in Colombia, Panama, Peru and some in the United States," said Quintana Kawage.
Places where you need work that the firm can do, as major highways, dams, power projects, works underground water tunnels. "We are competing in these countries to not be focused 100 percent in Mexico".
What comes of ICA for Alonso?
Infrastructure needs in Mexico are very large, is a very young country that wants to get ahead, you want better services, be more competitive, we are stable macroeconomic terms, we have large external debts as we had no problems in the past, is an economy with large savings, pension funds very well capitalized, with international reserves. What does that give us? The ability to project, we're not putting out fires in the past, but rather we are seeing the future.
On energy potential if Pemex will have many more open, did not want to call privatization, but investment open to get all our natural resources, are tools that are ready for production, with the offer that you can give to better infrastructure, and in that sense ICA can play an important role resolving important issues and challenges that still exist in this area.
What comes after ICA Bernardo?
I do not think my life without ICA, of course I'll go away little, but will always be present, I'm still the chairman of the board and participate in strategic decisions, fortunately the people at the company, my children, the other officers-I take a lot in mind, always seeking my opinion, if not for my permission so unless you are thinking in the same way they do. I'll be in the company until we drop, we did an orderly succession.
Keys
Break with Haver
- After the housing division of ICA (ICA Lives) and Group Haver be agreed in November last year a merger, a few weeks ago broke the agreement, the reason was that I did not see how profitable the market, said Alonso Quintana Kawage.
- "Live For ICA and Haver sometime think that the best solution to our housing division was to be part of this company, which is a little larger, and take a percentage of it, but as has been complicated the market and not necessarily the bigger the company is better, before it was clear that perhaps now be a boy is to be more flexible and dynamic. "
________________________________________________________
http://www.milenio.com/cdb/doc/noticias2011/a63dfd60be716e281cff679f972ad45e
ICA
No idea. From chart perspective it is over-sold and should be bouncing back up. Bought Friday when it dipped from the high and thought I was lucky but it continued down probably due to the overall market drop. Too strong company to remain at these levels. Pre-market is up sharply -- maybe this will ignite ICA!
This is very curious play. Why is it tanking?
Hmmm... Are they diluting?
Almost got in within the fives; due to it being the largest construction company in Mexico. Got in today.
ICA treated me to yet another sale yesterday:
We'll keep the Cash Reserve at around 50% going forward and resist any further selling until such time that the equity value has grown beyond 50% of the position's total.
Best regards, Tom
ICA does a 1:12 Reverse Split. Price now in the mid-$20s. We'll see if this does anything to attract investor attention.
Best regards, Tom
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