Press release from PR Newswire
Alpha Natural Resources Plans to Establish Two International Offices
Wednesday, March 02, 2011
Alpha Natural Resources Plans to Establish Two International Offices08:44 EST Wednesday, March 02, 2011ABINGDON, Va., March 2, 2011 /PRNewswire/ -- Alpha Natural Resources, Inc. (NYSE: ANR) today announced its plans to establish two international sales and development offices: one in Sydney, Australia and one in New Delhi, India. The global market conditions for both metallurgical and thermal coal appear likely to continue to improve in 2011, driven by increasing demand primarily in Asia. Given this anticipated increased global demand and constrained seaborne supply, U.S. coal producers should benefit as U.S. production capacity exceeds consumption of metallurgical coal by the domestic steel industry and thermal coal by domestic electric utilities, allowing for additional export opportunities. "With the seaborne markets for both metallurgical and thermal coal in a growth mode, these two offices will help Alpha meet anticipated increased global demand in the long term," said Kevin S. Crutchfield, CEO. Each office will be focused on increasing Alpha's sales of coal to high growth markets through our existing export platform, as well as unique optimization opportunities. Both offices will also serve to further develop and enhance trading opportunities, market intelligence and strategic relationships in the Asian markets.On Jan. 29, 2011, Alpha Natural Resources and Massey Energy Company (NYSE: MEE) announced an agreement for an $8.5 billion combination. The new entity should be well-positioned to capitalize on strong global demand trends for coal. Together, the two companies will be America's largest supplier of metallurgical coal for the world's steel industry and a highly diversified supplier of thermal coal to electric utilities in the U.S. and overseas. Brian D. Sullivan, who most recently was senior vice president and general counsel for the United Company in Bristol, Va., will lead the Australian office. Sullivan was a key member of the leadership team at United and oversaw the acquisition and divestiture of operating coal assets for the company. Suresh Iyer, most recently vice president of enterprise risk management at Alpha, will lead the Indian office. In previous positions, Iyer has had responsibility for buying, selling and trading coal for domestic and international markets. Both offices are expected to be fully operational by mid-year 2011. Brian Sullivan will report to Phil Cavatoni, executive vice president and chief strategy officer. Suresh Iyer will report to Scott Pack, executive vice president?sales and president of Alpha Coal Sales Co., LLC. About Alpha Natural ResourcesAlpha Natural Resources is one of America's premier coal suppliers with coal production capacity of greater than 90 million tons a year. Among U.S. producers, Alpha is a major supplier and exporter of metallurgical coal used in the steel-making process and is a major supplier of thermal coal to electric utilities and manufacturing industries across the country. The company, through its affiliates, employs approximately 6,500 people and operates approximately 60 mines and 13 coal preparation facilities in Appalachia and the Powder River Basin. More information about Alpha can be found on the Company's website at www.alphanr.com.SOURCE Alpha Natural Resources, Inc.For further information: Media, Rick Nida, +1-276-739-5304, firstname.lastname@example.org, or Investors, Todd Allen, CFA, +1-276-739-5328, email@example.com, both of Alpha Natural Resources, Inc.