Mack Attack! Cadmus, the Conqueror

In our view, consolidation is not new. The industry has been consolidating for at least 10 years. As to impact on the industry, this consolidation trend has put, and will continue to put, great pressure on the pricing structures of the smaller companies. It is a fact that the larger companies can procure their raw materials at substantially lower prices. And, large companies can theoretically operate with significantly lower SG&A, and better plant and equipment utilization.