Greg Newman Vicwest Inc VIC-T WEAK BUY Nov 30, 2011

Great company, leaders in Canada in agricultural steal grain storage. Great margins. Was impacted by the recession and margins in the commercial side shrank. Management did a great job of diversifying into insulated panels. Has gone like gangbuster. Had to cut dividend a few years ago to become a growth company after income trusts vanished. Buy below $11

Constructive on this name. Thinks it is going to have a strong 2nd half from Westfield backlog and continued growth in North American insulated metal panels and a recovery on margins. They have growth in international markets. Have had a continued focus on costs and efficiencies. Thinks the payout ratio is 45% for 2014. This is a higher risk stock.