EYEWITNESS LOCAL NEWSMurray Energy Purchasing Consolidation Coal Co.
from Eyewitness News Online
Reported by: Jeff Morris
Web Producer: Jeff Morris
Reported: Oct. 28, 2013 9:02 AM EDT
Updated: Oct. 29, 2013 9:55 AM EDT
Charleston , Kanawha County , West Virginia
Murray Energy Corp. said it has entered into an agreement to purchase the stock of Consolidation Coal Co. from CONSOL Energy that includes multiple mining complexes in West Virginia.
The transaction includes the McElroy, Blacksville, Loveridge and Robinson Run mining complexes in West Virginia, certain coal reserves, related river transportation and dock facilities and other aspects, according to a news release from Murray Energy.
“No company has developed a better legacy with its employees, with its customers, with the financial markets, with the regulatory agencies or with the public in general, over many decades, than has CONSOL and Consolidation Coal,” said Robert Murray, chairman, president and chief executive officer of Murray Energy. “Murray Energy intends to preserve this well-earned legacy.”
Murray currently operates six underground longwall mining systems and 23 continuous mining units. Consolidation Coal operates and equal number of each. Murray Energy also builds virtually all of its mining machinery, including the longwall systems.
Murray the transaction will boost its number of employees from 3,300 to 7,100.
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