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Alpha-Foundation Coal Merger Revives $1 Billion Coal Projects, an Industrial Info News Alert
SUGAR LAND, TX - December 8, 2009 - Researched by Industrial Info Resources (Sugar Land, Texas) -- In the midst of a global recession, two large coal producers have joined forces, resulting in the creation of the third-largest coal company in the United States, possibly weathering industry uncertainty and bringing back to life almost $1 billion in capital projects expected to come to fruition over the next five years. The $1.4 billion merger between Alpha Natural Resources (NYSE:ANR) (Abingdon, Virginia) and Foundation Coal Holdings Incorporated closed July 31, 2009, and the two were officially integrated as one company in the fourth quarter. The newly formed company, which will retain the name Alpha Natural Resources, is the nation's No. 1 metallurgical coal supplier, with control of more than 2.3 billion tons of coal.
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Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information send inquiries to nvermiere@hraadvisory.com or visit us at www.industrialinfo.com.
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