Severstal Resources Announces results of Take Over bid

Through its mining division Severstal Resources, OAO Severstal announced that the offer by 7027940 Canada Limited, an affiliate of Severstal, to purchase the outstanding common shares of PBS Coals Limited (formerly, Penfold Capital Acquisition Corporation)(TSX: PBS) expired at 11:59 p.m. on October 24, 2008. In order to resolve outstanding matters between PBS Coals Limited and the Offeror, the principal... 

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Severstal Resources Reaches Agreement to Acquire PBS Coals

Through its mining division Severstal Resources, OAO Severstal announced that it intends to acquire the business of PBS Coals Corporation by way of an acquisition of Penfold Capital Acquisition Corporation following a business combination of PBS and Penfold for an all cash purchase price of C$8.30 per share, implying an enterprise value of US$1.3 billion. PBS is engaged in the mining, processing and... 

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China Gengsheng Minerals, Inc. Announces a 5-Year Sales Contract for Fine Precision Abrasives

China Gengsheng Minerals, Inc., a materials technology company in China with products capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed its first sales contract for its fine precision abrasive products with a Taiwan-based vendor. The term of the contract is five years, with 300-500 metric...