Zacks Investment Research downgraded shares of GLOBE SPECIALTY (GSM) from NEUTRAL to UNDERPERFORM on May 03, 2012, with a target price of $12.40.
Globe Specialty Metals, Inc., together with its subsidiary companies, is among the world's largest producers of silicon metal and silicon-based specialty alloys – critical ingredients in a host of industrial and consumer products with growing markets. The Company's customers include major silicone chemical, aluminum and steel manufacturers, producers of photovoltaic solar cells and computer chips, the auto industry, ductile iron foundries and concrete producers. Headquartered in New York City, the company has major manufacturing facilities in the U.S. states of Ohio, West Virginia, Alabama and New York, as well as in the Brazilian state of Par , Mendoza province Argentina and Ningxia province China. Its principal operating subsidiaries are Globe Metallurgical, Inc. and Solsil, Inc. in the U.S. Globe Metais Ind stria e Com rcio S.A. in Brazil Globe Metales S.A. in Argentina and Ningxia Yonvey Coal Industry Co., Ltd., in China.
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