Kevin S Crutchfield Net Worth is5.0 $Million
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Company Name: Alpha Natural Resources, Inc.
Company Type: Public company
Traded As: ANR
Foundation: 2002
Location City: Bristol, VA
Location Country: USA
Key People: '''Michael J. Quillan''' Chair,
Industry: Metals and Mining
Products: Bituminous coal#Coking coal
Revenue: $3,917.156 mil (2010)url
Net Income: $95.551 mil (2010) operating income
Assets: {{steadyUS$5.17928 bil (Dec'10)
Divisions: Foundation Coal (since 2009), Massey Energy (June 2011)
Num Employees: 14,000 (6,400 before Massey merger)
Alpha Natural Resources is a large American producer of metallurgical and thermal coal. It also provides services relating to equipment repairs, road construction and logistics (terminals). It doesn't produce all of the coal it sells, some is purchased and resold. Alpha operates in Virginia, West Virginia, Kentucky, Wyoming, Utah, Illinois, Tennessee, and Pennsylvania. Clients include electricity producers and steel manufacturers (metallurgical coal is used industrially while thermal is the form of coal used to generate power). The 2009 takeover of Foundation Coal also gave it the Cumberland Mine Railroad to transport coal in Pennsylvania.
On January 31, 2011 Alpha Natural Resources acquired coal producer Massey Energy for US$7.1 billion (to be completed mid year) creating the second biggest coal miner by market capitalization. The merged company (54% owned by Alpha Natural Resources) will be the leading producer of metallurgical coal in the US and also have the second largest reserves of coal (5.1 billion tons). Merging operations with Massey is estimated to reduce combined operating costs by $150 million. 7,000 of the 14,000 employees are in West Virginia. In 2010 demand for thermal coal rose while metallurgical coal demand was flat (made up only 14% of coal sales down from 17% in 2009).
Alpha Natural Resources settled Massey's Upper Big Branch Mine disaster liabilities with the U.S. Attorney for $209 million on December 6, 2011. The settlement included $41.5 million to the survivors and families of the deceased. The Mine Safety and Health Administration additionally assessed a $10.8 million fine for 369 citations and orders, the largest fine for a mine accident in U.S. history.
The company as it exists today is the result of two mergers, one in July 2009 (Foundation Coal and Alpha Natural Resources, Inc.) and another January 31, 2011 (US$7.1 billion acquisition of Massey Energy). The takeover of Foundation Coal was a reverse takeover in that Foundation C

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Posted: May 15, 2019, 11:45 am
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