|Massive, volume for TAYD on Friday. Even a mention from CNBC Friday early morning. Taylor devices was up because it makes Earthquake seismic dampers to stabilize buildings. Yes, I still own shares. IMO, the company will ultimately benefit, but IMO it will not be right away. I saw the Buffalo news article. Anyone wanting to trade this. A word of warning. The company only has about 3 million shares outstanding with about 18 million in sales. I'm sure volume will be above normal Monday. |
Taylor Devices tracks Japan quake
Business First - by David Bertola
Date: Friday, March 11, 2011, 1:17pm EST - Last Modified: Friday, March 11, 2011, 1:41pm EST
According to Taylor Devices Inc. President Douglas Taylor, staff members at the North Tonawanda-based company’s sales office near Yokohama, Japan are stranded there but safe after a massive earthquake and tsunami that rocked the country.
“Reports from the people there are fine, but they are stranded because the streets and trains have all been shut down,” said Taylor, who estimated the office to be around 260 miles from the center of the quake, which had a magnitude of 8.9. Around six work at Taylor’s Japan office.
Coincidentally, Taylor Devices (NASDAQ: TAYD) designs, manufactures and markets shock absorption equipment to keep structures safe in the event of an earthquake.
Taylor said the 22 buildings and bridges the company had worked on in Asia have withstood the earthquake and its reported 30 aftershocks, and that the disaster could affect the design of future buildings.
“Just as we saw in California with the Northridge quake in 1994 that immediately changed the level of protection,” he said.
And if design codes for structures are upgraded, it could mean more business for Taylor Devices.
“That will open markets for us more than they are now,” Taylor said.
And investors are watching closely as Taylor Devices traded up over 30 percent higher today in pre-market trading versus yesterday’s closing price. As of Friday afternoon, shares were at $5.75, up 89 cents, or 18.3 percent.
Taylor said the company has been doing well in Asia that last year or so, and of the last 20 projects, three-quarters were in Asia. ...
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