SOURCE: Industrial Info Resources

December 08, 2009 05:15 ET

Alpha-Foundation Coal Merger Revives $1 Billion Coal Projects, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - 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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