
D&R is building a solid brand in the automotive industry as a leader in automated tube processing solutions. It is emerging as one of the world’s leading providers of automated manufacturing solutions, which are used by three of the top ten automotive part suppliers in the world.
Only trading regularly for about four months, shares of ECIT had trickled down to touch all-time lows of a dime last Friday. Perhaps someone did a divination reading of bat guano or a nine chicken bone toss to tell the future, but whatever it was, shares started turning up quickly on Monday, surging from 11 cents to 23 cents on heavy volume before any big news hit.
Tuesday news came that D&R received a tooling contract from Toyota Boshoku (Pink Sheets:TDBOF), a major tier one automotive parts supplier. Per the contract, D&R will manufacture and develop tooling for a new 2012 Toyota vehicle.
This morning, with the roar from the Toyota news fading, news hit the wire that D&R was awarded a contract from Johnson Controls Inc. (NYSE:JCI). For this contract, D&R will be producing seat components for the all-new compact luxury sports sedan, Cadillac ATS.
Share value, which had given some of the gains on the Toyota news back on Wednesday, gapped upward by nearly 25 percent to start Thursday’s trading and ran to 69 cents, but have calmed a bit with 30 minutes left in the trading day. Shares are still printing 57 cents, up 30.4% on the day, with 5.2 million shares changing hands. On the week, shares are trading at a 433% premium to the prior week’s closing price.
“These are significant achievements for our organization and exciting times for our share holders. We will continue to inform the public of our business success,” said D&R Technology President and CEO Drasko Karanovic.
Ecoland International (ECIT) Stock Quote and News:
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