Posts in LSE:MRX

Share Sleuth's notepad: Going bust

After a conversation with the administrator it's clear, there will be no money for shareholders from Metalrax’s pre-pack administration.

Share Sleuth's notepad: Lessons from a bum trade

When I went on holiday two weeks ago I wasn’t expecting one of the portfolio holdings to go into administration, but if it was going to happen, I suppose it would most likely have happened to Metalrax.

Metalrax administrators save 370 jobs

Metalrax administrators have sold the group's niche engineering businesses headed by Bowman Birmingham to Arc Specialist Engineering.

In addition, solvent share deals were completed for two companies within the group, both of which were not affected by the insolvency process - Metalrax Housewares, which was sold to Cable Capital Partners Limited and Metalrax Overseas Holdings, which was also sold to Arc Specialist Engineering - securing a total of 387 jobs.

Will Wright and Mark Orton from KPMG were appointed as joint administrators to AIM-listed Metalrax Group, and its subsidiaries - M

Markets: FTSE 100 falls on Friday

London's leading share index lost more than 1% on Friday, as continuing issues in Europe, new Chinese leadership and the multi-billion dollar US fiscal cliff issue all fought for investors' attention.

Metalrax, a tale of two halves

Another company testing my patience is Metalrax. Like French Connection it's just published its half-year results, like French Connection it's announced a loss, and like French Connection one half of the business is misfiring, while the other prospers.

Markets: FTSE 100 tumbles on Tuesday

The three-session rally on London's top share index lost steam on Tuesday, with investors waiting to see if actions by the central banks in Europe and the US would speak louder than their words.

Metalrax in two minutes sixteen seconds

A two minute monologue.

What it does: steelsmith

Metalrax is a hodge-podge of specialist engineering companies and two pot and pan producers. The common denominator is metal, the pre-coated metals made by Cooper Coated Coil, the group's largest business, are used in the manufacture of bakeware, for example, which is also produced by Metalrax companies, George Wilkinson, the group's second largest, and Samuel Groves. It also makes hinges and handles, pallet trucks, vehicle components, architectural metalwork and power products for hospitals.

Metalrax in two minutes

Value investor Richard Beddard continues his closer look at the Thrifty 30 constituents with a two-minute monologue on steelsmith Metalrax.

A year of qualified progress at Metalrax

Nerves of steel Judging by Metalrax's full-year results, published earlier this week, the company, which manufactures pots, pans and baking trays and a range of engineered metals, components and products for industry, is recovering. But the story has its financial complications.

Markets: FTSE 100 subdued on Monday

London's benchmark share index clawed back its earlier losses at the start of the week, but was unable to make any forward progress as investors looked cautiously ahead to the Budget on Wednesday.