Georgia Bard's Corner Message Board

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To: birdseye who wrote (5635)	5/21/1999 10:13:00 AM
From: Ga Bard	Read Replies (2) of 9440

ROFLMAO ... Now there was some SOLID DD if ever I saw any... Rumor: They have got their financing and a merger/acquistion is about to come to fruitition. From the last filing ... On March 6, 1999 the Company commenced a fundamental restructuring of Capitol, the purpose of which was to phase out a portion of the business which was not profitable and focus solely on the toll pickling and slitting areas of business where Capitol can generate profitability. The central focus of this change in strategy is to have Capitol terminate its traditional position of buying and selling steel for its own account (processed steel sales) and to concentrate exclusively on processing the steel owned by third parties. Management feels that Capitol was unable to compete effectively within its marketplace as a traditional steel service center. The inability to secure favorable terms and pricing from its suppliers placed Capitol Metals in the position of being at a strong competitive disadvantage within its own market place. There is a lot more too ... if you read it... :-) GB

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