What Really Happened to Georgetown

The Boston Herald has an article about how Bain Capital purchased Georgetown Steel in 1993, doubled their investment and bankrupted the company. Of course Bain’s position was that the company was weak and they couldn’t stand up to the pressure of cheap, government subsidized foreign steel and that many other steel companies went out of business during this time frame. What if Bain would have made the investments the facility needed?

I spent quite a bit of time at Gerdau’s facility in Beaumont Tx which was a sister plant to the Georgetown facility. I always wondered what happened to Georgetown.

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