Vitreous Glass $VCI.V
A regional monopoly that spews cash flow
Vitreous Glass is traded on the TSX Venture under the ticker symbol VCI. It has a market cap of 30 million $CAD. It is fairly illiquid and not followed by many. I own some shares in my personal account.
I originally found this idea from a somewhat viral tweet where I asked people to tell me about small monopolies. Check it out for yourself as it might have some interesting ideas in the replies.
The Elevator Pitch
Vitreous Glass is a great regional monopoly with high predictable cash flows and a simple understandable business model. You will get returns with a growing stream of dividends based on the performance of the business. Management is incentivized to focus on steadily improving cash flows from the business and is aligned with shareholders. Currently trading at a fair price and unavailable to large investors and institutions due to small size.
Opened in 1995 and employing 10 people, Vitreous Glass Inc. accepts deposit system beverage container glass from Alberta, British Columbia, and Saskatchewan.
Vitreous removes the contaminates and crushes the glass to sand. This GlasSand™ is then sold to fibreglass insulation manufacturers as furnace ready cullet for use in their production facilities.
This is directly from their website. I don’t know that I need to write anything more. It’s one of the most simple businesses you can find.
Insiders and Management
Keep reading with a 7-day free trial
Subscribe to Margin of Safety Investing to keep reading this post and get 7 days of free access to the full post archives.