NewLead Holdings Ltd. (Nasdaq: NEWL) has completed a deal for a coal wash plant in Kentucky.
The plant cleans, blends, sizes, stores and delivers coal. Terms of the deal were not disclosed.
NewLead, headquartered in Piraeus, Greece, is a shipping and commodity company. The company owns three dry bulk vessels, and expects the acquisition to expand its commodity arm.
NewLead has been on Mergers & Acquisitions’ Distressed Company Watch List since Sept. 10, after indicating doubts about its ability to continue without the threat of liquidation.