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July 06, 2015 11:51 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Mechel Bluestone Inc.

Company Overview

Mechel Bluestone Inc. offers coal mining services for the steel industry. The company was founded in 2009 and is based in Beckley, West Virginia. Mechel Bluestone Inc. is a former subsidiary of Mechel OAO.

100 Cranberry Creek Drive

P.O. Box 1085

Beckley, WV 25801

United States

Founded in 2009

Phone:

304-252-8528

Key Executives for Mechel Bluestone Inc.

Chief Executive Officer and Chief Operating Officer
Compensation as of Fiscal Year 2015.

Mechel Bluestone Inc. Key Developments

Mechel Bluestone Reports Temporary Halting of Mining Operations

Mechel OAO reported the temporary halting of mining at Mechel Bluestone (West Virginia, USA), which is part of the Group's mining division. Due to unfavorable market conditions, mining operations was temporarily halted at all of Mechel Bluestone's mines and open pits. Some of the company's washing facilities will continue operating to meet the company's contractual obligations.

Mechel Seeks To Sell Mechel Bluestone

Mechel OAO (NYSE:MTL) hires JPMorgan Chase & Co. (NYSE:JPM) to sell Mechel Bluestone Inc. “We have hired JP Morgan to assess our strategic possibilities concerning Bluestone. Cooperation and working with another North American producer could be another possibility,” the spokesperson said. Mechel is selling assets to generate cash to pay off its debts, plans to initiate the active phase of preparations for selling its North American coal asset Bluestone in October or November, a source in banking circles told Interfax.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 18, 2015
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