Oxbow Coal Limited acquires Eldon Colliery Limited
WEST PALM BEACH, FL – March 3, 2014 - Oxbow Coal Limited and Eldon Colliery Limited (ECL) today announced Oxbow’s purchase of ECL. Terms of the transaction were not disclosed.
ECL is owned and operated by Chris and Lee Bartlett who manufacture solid fuel briquettes which are sold into the home heating market in northern United Kingdom (U.K.). ECL owns and operates a briquetting facility in Newfield, a town in Northern England. ECL was founded by John Bartlett in 1980, and the Company commenced operations in 1993.
High energy costs have caused a tremendous increase in the number of home heating stoves over the past decade. According to the Stove Industry Alliance, more than one million homeowners in the U.K. currently rely on heating stoves for heat. Industry figures show an additional 180,000 U.K. homeowners switching to heating stoves every year.
Multi-fuel stoves, which burn both wood and solid fuels, account for 70 percent of new stove purchases, according to industry sources. Briquettes are a high heat, low ash, clean, and convenient fuel enjoying a renaissance in the U.K. home heating market.
ECL has current production capacity of over 100,000 metric tons. ECL has eleven full time employees. It is anticipated that the employees and members of the management team will continue to run the plant following the acquisition under the overall direction of Oxbow.
For further information contact:
Corporate Communications & Community Relations
Oxbow Carbon LLC
1601 Forum Place, Suite 1400
West Palm Beach, FL 33401