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Chaparral hangs out the for sale sign.

Chaparral Steel Co., based in Midlothian, Texas, has announced that its board of directors has retained the investment house of Goldman, Sachs & Co. and has begun a review of possible strategic alternatives.

Through this process, the company will be able to assess a number of other possibilities, including a possible strategic partnership, merger, acquisitions or a recapitalization.

Despite the move, Chaparral says there is no guarantee that the company will pursue any of the transactions that could result.

"The company will only pursue transactions that reflect the full value of this great company," says Tommy Valenta, president and CEO. "To capture that value, all strategic alternatives will be considered."

Chaparral is the second largest producer of structural steel beams in North America and supplies steel bars as well as recycling services.
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Publication:Recycling Today
Date:Jun 1, 2007
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