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Cemex selling up!

Damian Kimmins said:
I would like to see these waters stay within angling, but for what sake?
Fishing clubs up and down the country must operate a profit and if these waters cannot offer that to Cemex Angling is it not just a false sense of pride that is driving this?
Generally, if basic economics are failing then something must change, or whatever owner takes over, providing they remain exclusively open to anglers, is doomed to failure too, is it not?


Regards

Damian
Click to expand...

Not so Damian.

They're asset stripping. The Angling was a profitable sector within the company, but not a big enough profit generator for their liking.

This has been in the pipeline for a while now. It was planned. ;)
 
Yes, I think it pays to remember that Cemex are an international company and Mexican in origin. It isn't that running fisheries was not profitable, its more a case of selling them will raise a lot more 'instant' money. Take the case of Bawburgh Lakes for example.... they have the potential of raising well over £50.000 profit every year as a fishery and that is a worthwhile income for any fishery owner, however Cemex are more interested in the £600.000 gained by selling the lakes and farmland surrounding it.
 
If they can make £50,000 profit from an asset only worth £600,000 I wouldn't of thought that it would be sold unless the company had a serious cash flow problem. A return of nearly 9% on assets is good stuff these days. If those sort of returns can be made I would think they won't have much problem selling. How much do people pay to fish these places....must be a fortune to generate that sort of profit. Or most of the profit must come from single farm payments as I can't see angling alone generating anything like that sort of profit given the costs attached to running fisheries these days.
 
The Bawburgh Lakes I believe consist of 7 lakes and a stretch of the upper Yare and to fish all venues costs around £265 for the year which aint bad if you can get there regular plus the main lake has the highest population of double figure tench in the country .
 
If the Angling Trust can ensure these fisheries remain as fisheries then I applaud their efforts.

That said I cannot imagine that any club will bid on the terms offered so far.

No club will say goodbye to £10,000 to £30,000 from club funds as a "deposit" against bid.

They would need to trust Cemex very much.........................and I don't!!
 
It's quite possible, Simon. Coincidentally, I heard only the other day how Cemex bought RMC not for it's operations, but for their rights holdings. How true that is I do not know. I have to say it doesn't make a great deal of sense.

Damian
 
Damian, you have to bear in mind that Cemex bought out RMC in the "good times" and had a medium to long term plan to match those economic conditions. Angling included.
Unfortunately for us all, things nosedived almost immediately after and the company had to restructure its UK holdings which led to a new style of mangement and consequent decision-making about what to keep, what to sell.

Where angling had a place, it suddenly didn't and the rest is history.

Ian Welch's articles on FM have lifted the lid a little on what went on around that time.

Such is the fickle nature of the Corporate entity.
 
Rumour has it on another website that 'all' the venues have now been sold to one buyer, prior to any prices/tenders. It is said that a press release will be in Angling Times in the near future!
 
Ray, I heard yesterday that they were negotiating with someone and are confident at doing a deal in the next day or two for the whole lot.......
 
It wouldnt surprise me if deal had been done as they have come over as very underhand and untrustworthy , we had dealings with a guy who was supposed to be going to sort the problems been caused by certain moderators on the website and forum but got lip service .

How about British Airways ? a runway anywhere they want it !!!!!!!!!!!!! :(
 
Hi men ,

Ian , :D , Im broke as broke can be , but a lotto win might change that :D . Cottage been referbished via ebay :p:D.

Given the money .......... I would save Luton Town first , then buy the fisheries !

Hatter
 
Another thought who's to but cemex angling how about hansons they brought out ARC and YOEMAN aggregates years ago and still sell tickets thou limited to some of the waters they took over,Amey's,moatlands etc if you can get on the list. buying the fishing could also give them an insite of whats going on if CEMEX decide to sell the whole uk operations ????
 
Mark A.

If you won £150m on the Lottery you might be able to sort out the Football Club.....but Luton Town.......................never.:D;)
 
Hi men,

Graham , at the moment £20 win would help us !:D

Did you fish that bit of kennet much ?;)


Hatter
 
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