Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes. Solidarity Reg, Fred, Bill, et al….. but it needs sorting out soon, before Reg, Fred and Bill cause a bigger problem that could potentially affect the business and share price at a critical time when the business is making positive strides out of the Pandemic.
These things have a habit of snowballing if they are not nipped in the bud early! Hope cool heads see sense before significant distribution happens.
There is a Strike according to the Assistant General Secretary of Unite Union. The vote he mentions in his message, was announced today. It was unanimous in favour of Industrial action, to bring the entire plant out with the 17 specialist engineers currently on the picket line at the Main Entrance at RR Barnoldswick.
https://www.facebook.com/2285830328359103/posts/3122285948046866/
Today, RR Barnoldswick personnel unanimously voted in favour of Industrial Action, in addition to the 17 specialist engineers who have been out on strike for the past month. This means the entire site will be affected and will disrupt the total RR supply chain. Engine build will stop.
RR Barnoldswick is a key site manufacturing Fan blades; structures and Transmission parts.
Must be looking out of the window of your car then.
Obvious you don’t work there, or know what you are talking about!
Erm. There are no windows facing the picket line. The main building at the top of the factory was closed last year. You obviously are making that bit up!
Pictures (in this case photos of people on the picket line at the RR Barnoldswick plant) paint a thousand words. This is not hype. These are real people taking part in real industrial action at a real Rolls-Royce production facility right now (today!)
If the vote is in favour of a total strike at the site on Friday this week, another +400 people will be joining the picket line.
Fan blade deliveries will be totally disrupted. Engine build will halt. RR will be hit with penalties from Boeing and Airbus,
Unfortunately this is all very real and not hype at all!
This is not good and needs to be sorted, especially since RR is emerging from the pandemic with recent reasonable results and potential uplift on the SP. As shareholders we don’t need this disruption right now.
It’s unheard of for RR to be seeing such a potential large scale industrial action like this in recent times.
Word on the street, is that there is already a picket line in place now in advance of the vote. Production at the site has now halted.
https://www.facebook.com/UniteNorthWest/photos/a.2285980875010715/3119196625022465/?type=3
So let’s see what happens to the Share price, come Friday, if there is a vote for strike action at the entire plant?
Since you work there, you’ll realise engines don’t work without fan blades!
No it’s not. This has escalated to a dozen engineers, to the entire site. The ballot for the entire strike closes Friday this week. If there is a majority, engine build at Derby will halt. This is new development is not old news!
Looks like the entire Fan Blade manufacturing facility at Rolls Royce Barnoldswick may start industrial action from 13th August if there is a majority vote, which based on recent action seems likely.
This could have significant implications for the RR supply chain to engine build, just at the time when the company is seeing a way ahead through the pandemic. Not good.
https://www.bbc.co.uk/news/uk-england-lancashire-58149147
17 ‘SPECIALIST’ engineers - people who do a very specific role within RR are now on targeted strike action (the unions have purposely brought only these people out for a reason!) - having the very real potential to halt the entire production process. The clue is in the name ‘specialist’. Other channels now reporting same.
If just one part gets stopped in all those thousands that make an engine, it does become serious. Engine build stops.
This is a new strike that has recently emerged and not the one planned last year.
Specialist Engineers start targeted strike action, co-incident with significant SP drop. This has potential to seriously escalate.
https://www.bbc.co.uk/news/uk-england-lancashire-57888048
Reporting period profits are likely to be flattered by the step change in FX. A 5 to 10% swing in FX on sales of circa £232M should translate to break even or even a modest profit for this reporting period. If the pound/dollar hits 1.5, then we may be back to around £20M profit (as per pre-Brexit) in FY 20/21. This is probably what’s driving the SP at the moment in my opinion.
Share price here is dependent on current exchange rates. When GB/USD was circa 1.5, the business was in profit. Post leave EU vote, exchange rates hit lows of 1.2. With certainty back, current exchange rates are expected to track back to somewhere close to 1.5 again. In short this means that the overseas stock ALY will buy will be circa 25% cheaper, swinging the business back into profitability. Very strong buy for me here. I think we will see some big jumps on news.
Cavendish Asset Management Just bought 12.5M shares! Are they closing a short or buying in?
The value of the assets alone are worth 5p per share (Feb 19 interims). Then add the value of the brand and potential forward earnings - depressed currently due to the weak pound. The offer to buy LA at 2.75p is bizarre!
Flacks is having a laugh.... But let’s see what Future Group does now. They have been circling for a while?
That’s not to say a hostile one is in progress? No smoke without a fire, and all that...... SPs up 23% already.