CHICAGO Globe Specialty Metals Inc. continues to mull
potential acquisitions despite recent losses, lower silicon
selling prices and operational problems, according to company
The New York-based silicon producer is very liquid
thanks to $160 million from a revolving credit facility and
approximately $160 million more in cash, chief financial
officer Malcolm Appelbaum told analysts May 7 following
the release of the company's fiscal third-quarter earnings
We are actively looking at a large number of potential
transactions in the current marketplacesome very
interesting opportunities largely outside of the United
States, he said.
Appelbaum did not detail what those opportunities might be, but
he said Globe was not looking to stray from its
core business activities.
Globes growth story remains intact, executive
chairman Alan Kestenbaum said during the call.
Appelbaum and Kestenbaums comments come after Globe chief
executive officer Jeff Bradley said earlier this year that the
company sees more opportunites for acquisitions than it had in
amm.com, Feb. 8