subscribesubscriber servicescontact usabout ussite mapBuy a Classified
Sun, Nov 08 2009 

Published: February 26, 2009 10:34 pm    print this story  

Russian company to buy Bluestone Coal

By Michelle James
Register-Herald Reporter

A Russian company has agreed to buy Beckley-based Bluestone Coal Corp. in a deal one analyst valued at $800 million.

According to various international news reports, Mechel will pay $425 million plus shares and assume $135 million in Bluestone debt. The deal is expected to close in March or April.

Bluestone president Jim Justice issued a statement Thursday through company treasurer Terry Miller which read: “While a sale of Bluestone Coal Corp. has been the subject of much speculation over the last several months, it is not constructive for us to comment at this time. The transaction is with the global steel, coal and iron ore producer Mechel ... Our formal announcement along with detailed comments will be made at the appropriate time.”

Mechel, Russia’s largest producer of coal for the steel industry and the country’s sixth-largest steel maker, will be making its first venture into the U.S. coal market.

A Mechel spokesman declined comment on the matter.

It was reported last summer that Indian and Russian firms were looking to gain a foothold in the U.S. metallurgical coal market. Bluestone and United Coal were listed as two assets that were possibly on the market.

— E-mail: mjames@register-herald.com

print this story  



autoconx

Premier Guide
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide

Find a job! Find a Home! Find a car!

Premium Jobs

LICENSED PRACTICAL NURSES
Make a difference in the life of a veteran. Are you interested in working in a state-of-the-art, one-of-a-kind organizat...>MORE

VARIOUS POSITIONS - GRAND HOME FURNISHINGS
Now taking applications for Sales Associates, Office Associates, Store Attendants, Home Delivery Drivers and Helpers. Gr...>MORE

EXPERIENCED UNDERGROUND MINERS - ELK RUN
Massey Energy is accepting experienced underground applicants. Our expanding operations are located in Raleigh and Boon...>MORE

ELECTRICAL DIVISION POSITIONS
Taggart Global, LLC is an international design, engineering and construction company with expertise in turnkey design, s...>MORE

MEDICAL PROVIDER
The Military Entrance Processing Station (MEPS) is recruiting a Medical Provider (MD) for a part-time / on-call position...>MORE

ELECTRICIANS, HELPERS, FOREMEN, SUPERVISORS
Seeking qualified industrial electricians, helpers, foremen and supervisors for project in southern West Virginia area. ...>MORE

SURFACE MINE ENGINEER
A coal company in southern West Virginia is seeking a Surface Mine Engineer. Summary: Reporting to the Chief Engineer an...>MORE

ACCOUNTANT / AUDITOR
Career Opportunity exists with Welch Community Hospital as a Patient Accounting Manager. Responsibilities will include t...>MORE

MEDICAL TECHNOLOGISTS or MEDICAL LABORATORY TECHNICIANS
An opportunity exists now at Welch Community Hospital to become part of our progressive Medical Laboratory Department. W...>MORE

NEW STORE SETUP TEAM
Hiring Event for a new store opening in Beckley. 9:00 a.m. to 3:00 p.m. Tuesday, November 10. New Store Setup Team. Thes...>MORE

See all ads

Premium Jobs

See all ads


 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2009. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index