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Wednesday, December 14, 2011

luxfer holdings ipo stock ticker symbol

luxfer holdings ipo stock ticker symbol ; Specialty chemicals and metals materials company Luxfer Holdings PLC has postponed its initial public offering. The company, which was scheduled to begin trading Wednesday under the symbol LXFR on the New York Stock Exchange, cited market conditions in postponing the deal. No new trade date has been selected.

Luxfer had been planning to raise as much as $161 million in its IPO. Luxfer designs and makes a range of materials, component and gas cylinders. The company claims to have leading positions by market share in magnesium aerospace alloys, photo engraving plates, zirconium chemicals for auto catalytic converters, and metal cylinders for breathing use.

Although it is headquartered in England, Luxfer operates manufacturing plants worldwide, including in the U.S., France, the Czech Republic and China.

Luxfer's sales were affected by the global economic downturn, but the company was profitable every quarter, protecting its margins by passing on increases in raw materials costs and overhead to customers. In the first nine months of the year, it reported revenue rose 28% to $385 million, and its profit increased to $32 million from $19 million in the same period a year earlier.

Jefferies Group Inc. (JEF) and Credit Suisse Group (CS) were managing Luxfer's offering. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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