Wayne M. Boich
CEO of the Boich Group of Companies
Wayne Boich is a man with vision, who has a deep concern for the community, society and the environment. These combined factors make him a powerful and articulate business man.
Introduction
The Boich Group of Companies is based in Columbus, Ohio and as a concerned and expanding Ohio business, is an active contributor to political fundraising campaigns.
In 2008 Wayne Boich and the Boich Companies teamed up with fellow Ohio utility, FirstEnergy to purchase the Signal Peak Coal Mine near Billings, Montana.
This heralded the start of the successful business partnership, now known as Signal Peak Energy.
Press Releases
Sept 2009
Dignitaries get close up look at new rail line, mine
Billings Gazette
After an investment of $408 million and a year of rapid construction, the first coal train will leave the Signal Peak Energy Mine near Roundup next week, carrying the first load of low-sulfur Montana coal east to an Ohio utility.
Oct 2010
FirstEnergy and Boich Companies Sell Partial Interest in Signal Peak Coal Mine to Gunvor Group
AKRON CEO
The FirstEnergy Corp.and Boich Companies subsidiaries that jointly own the Signal Peak coal mine inMontanaannounced that Pinesdale LLC, a fully owned subsidiary of the Gunvor Group, Ltd., one of the world's leading commodity traders, has purchased a one-third interest in the venture for$400 million.
Nov 2011
McDermott Acts for Gunvor Group in its Purchase of USD $400 Million Share in Signal Peak Coal Mine
McDermott, Will & Amery
LONDON AND NEW YORK (3 November, 2011) — International law firm McDermott Will & Emery LLP represented Gunvor Group, Ltd., one of the world's leading commodity traders, in its subsidiary’s purchase of one-third interest in Signal Peak coal mine in Montana from the subsidiary joint venture owners FirstEnergy Corp. (NYSE: FE) and Boich Companies. The acquisition was successfully closed for a total purchase price of USD $400 million.
Signal Peak Energy
Signal Peak Energy is the partnership between Wayne Boich and FirstEnergy, an Ohio based utility company.
In the spring of 2008, Boich and FirstEnergy purchased the Signal Peak Coal Mine. The mining project is located south of Roundup in Montana. The mine was previously owned by the Bull Mountain Coal Co but, despite attempting to reopen the mine during the early 1990s, they were unsuccessful and their attempts resulted in a couple of lawsuits.
Boich Companies and FirstEnergy are equal partners in Signal Peak Energy and have spent a considerable amount of money on the Signal Peak Project to get the mine back up and running successfully. They are determined to make it the most successful underground mine of its kind in the country with the coal being marketed all across the United States of America as well as the Pacific Rim Countries.
Photo Gallery
More about Signal Peak Energy and Wayne M. Boich
In one year of rapid construction, a whole new infrastructure was built and the mine site was transformed from a few older buildings and little external infrastructure to a large industrial complex. The Signal Peak Energy mine site now consists of a new office, warehouse and shop. In addition, there is a new wash plant capable of cleaning 2,000 tons of coal an hour, two giant storage silos and an extensive conveyor system and of course the railroad spur. The cost of constructing the 36-mile railroad spur alone was $105 million. This rail spur ties into the BNSF main line three miles south of Broadview at a crossing that was named "Walter" in honor of the world's oldest man, 112-year-old Walter Breuning of Great Falls. For half a century, this Montanan worked for BNSF's predecessor, the Great Northern Railway.
The Signal Peak Mine employs 190 people and is expected to supply 7 million tones of coal per year. This is about one-third of the coal required by FirstEnergy who have signed a 20 year contract with Signal Peak Energy. At maximum capacity, the Signal Peak mine can load seven trains per day of 120 to 150 cars. Montana coal has been found to produce more heat per ton than Powder River coal: 10,300 British thermal units compared to 8,000 Btus. That means FirstEnergy can ship less coal to produce the same energy, which helps make up for railroad shipping costs. It is this combination that will allow coal to be competitive with alternative fuels in Ohio.
The new Signal Peak Mine and Railroad Junction was opened by top executives from BNSF Railway, FirstEnergy, The Boich Group, Signal Peak Energy, Gov. Brian Schweitzer and a select few Montana politicians.
Signal Peak Energy Foundation and Environment
