Chaparral Steel Co., based in Midlothian, Tex., announced that its board of directors has begun retained the investment house Goldman, Sachs & Co., and has begun a review of possible strategic alternatives. The move is being done as the company seeks the possibility of being acquired.
Through this process, the company will eye a number of other possibilities, including a possible strategic partnership, merger, acquisitions, or a recapitalization.
Despite the move, the company did say there is no guarantee any of the above steps will be taken.
"The company will only pursue transactions that reflect the full value of this great company," said 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. The company also supplies steel bars, and is involved in the recycling industry.
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