U. S. Steel Completes Sale of Mining Company Assets
United States Steel Corporation (NYSE: X) announced today that it has completed the sale of the mines and related assets of U. S. Steel Mining Company, LLC (USM) to a newly formed company, PinnOak Resources, LLC.
The new company has acquired the coal and related assets associated with USM's Pinnacle No. 50 mine complex located near Pineville, W.Va., and USM's Oak Grove mine complex located near Birmingham, Ala.
The transaction price included $50 million at the time of closing plus a future amount to be determined based on final inventories. U. S. Steel will record the results of this sale in the second quarter.
For more information on U. S. Steel, visit our web site at www.ussteel.com .
SOURCE: United States Steel Corporation
CONTACT: John Armstrong or Mike Dixon of United States Steel
Web site: http://www.ussteel.com/
Company News On-Call: http://www.prnewswire.com/comp/929150.html