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Capara Group, the largest privately owned UK company specialising in manufacturing and supplying steel and engineering products for industry, has completed the purchase of Sharon Speciality Steel in the USA.
Caparo Steel, a newly created US subsidiary of Caparo Group, made the purchase through the US Bankruptcy Court of substantially all the steelmaking assets of Sharon Speciality Steel for $26M in cash. This is Caparo's largest acquisition to date in respect of potential capacity and volume output. Caparo has operated in the United States since 1988 when it acquired the steel pipe manufacturing company, Bull Moose Tube Co.
Caparo's worldwide turnover for 1994 is $680M with an operating profit of $61M. Once the new plant is in...