Chaparral Steel repays $50 million of revolver debt

By Sara Rosenberg

New York, Sept. 21 - Chaparral Steel Co. has repaid $50 million of outstanding revolving credit facility debt since the successful spin-off from Texas Industries Inc. on July 29, according to a company news release.

"We generated significant cash in August from a reduction in inventory. The contributing factors to the reduction were record shipments in the month of August and production being occasionally curtailed due to high energy cost," said Tommy A. Valenta, president and chief executive officer, in the release.

Chaparral is a Midlothian, Texas-based producer of structural steel and steel bar products.

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