Brush Beryllium Co. Deal - Lehman Brothers Collection
Brush Beryllium Co.
|Company Deal||Brush Beryllium Company: $6,500,000 convertible subordinated debentures due 1974|
|Transaction Type||Convertible Subordinated Debentures|
|Deal Description||The Brush Beryllium Company used the net proceeds from this transaction to retire the company's long-term indebtedness outstanding in the amount of $1,530,253. It was expected that a portion of the proceeds would be used to finance part of the capital expenditures required in connection with the company's expansion program, and the balance would be used for general corporate purposes, including increased working capital required to carry higher inventories and receivables resulting from the company's increased volume of business. The company's expansion program included additional beryllium metal extracting and fabricating facilities at the company's Elmore plant, new beryllium fabricating facilities in California, and additional beryllium copper fabricating facilities at the Elmore plant. In addition, the program included expansion of the companys beryllium oxide production and fabrication facilities.|
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