Brush Beryllium Co. Deal - Lehman Brothers Collection
Brush Beryllium Co.
|Company Deal||Brush Beryllium Company: 1956 offering of 400,000 shares of common stock|
|Transaction Type||Common Stock|
|Deal Description||The Brush Beryllium Company used the net proceeds from this transaction, together with the proceeds of bank borrowings, to finance the construction of new facilities at the company's plant site near Elmore, Ohio. Such new facilities were to be used by the company in the production of pure beryllium metal for sale to the Atomic Energy Commission under an agreement entered into with that agency. In addition, such new facilities would enable the company to produce beryllium copper master alloy for delivery to the Commodity Credit Corporation in the quantities required under an agreement made with Continental Ore Corporation and Derby & Co. (Metals and Minerals) Inc., and would also be used by the company in connection with the production of such alloy for sale to its commercial customers. A portion of the capital expenditure used for the plant-extension program was allocated for the construction of facilities for the reduction of beryl ore to beryllium hydroxide and for the construction of facilities for the processing of beryllium hydroxide into vacuum cast pure beryllium metal.|
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