 It filed for bankruptcy in June 2015 after changing competitive circumstances, declining prices on output and a 2014 restructuring.It was purchased by its largest creditor Oaktree Capital Management and was reorganized as Neo Performance Materials.Roots of the company dates back to 1919 when the Molybdenum Corporation of America, established as a subsidiary of the Electric Reduction Company, started molybdenum ore mining at Questa, New Mexico.