Printer Friendly

CONSOL REACHES AGREEMENT TO ACQUIRE ISLAND CREEK COAL

 PITTSBURGH, April 15 /PRNewswire/ -- CONSOL Energy Inc. (CONSOL) confirmed today that it has reached agreement with Occidental Petroleum Corporation (NYSE: OXY) to acquire Island Creek Coal, Inc.
 CONSOL said it will acquire the active coal operations of Island Creek in Virginia, West Virginia and Kentucky as well as certain other non-coal mining facilities.
 In making the announcement, B.R. Brown, chairman, president and CEO of CONSOL, said the acquisition would be a strategic one for CONSOL. "The acquisition of Island Creek's operations in Virginia and southern West Virginia will improve CONSOL's ability to serve the market for high-quality steam and metallurgical coals."
 Closing of the agreement is expected following review by the federal agencies. Details of the agreement were not released.
 CONSOL Energy Inc. is a holding company jointly owned by E.I. DuPont de Nemours Company and Rheinbraun A.G. Its subsidiaries operate 24 mines in seven states and in the Canadian province of Alberta. CONSOL produced more than 56 million tons in 1992, while Island Creek mines produced nearly 16 million tons.
 -0- 4/15/93
 /CONTACT: Thomas F. Hoffman of CONSOL, 412-831-4060/
 (OXY)


CO: CONSOL Energy Inc.; Occidental Petroleum Corporation; Island Creek
 Coal, Inc. ST: West Virginia, Virginia, Kentucky IN: MNG SU: TNM


CD -- PG008 -- 6064 04/15/93 09:25 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1993
Words:215
Previous Article:USWA: UNION STEPS UP CAMPAIGN AGAINST ARMCO STEEL PLAN
Next Article:EDY'S GRAND ICE CREAM SWEETENS THE TAX BITE
Topics:


Related Articles
DU PONT SELLS STAKE IN CONSOL
GREEN HILL COAL CO. SOLD TO CONSOL INC.
Coal Companies Announce Merger
CONSOL Completes Acquisition of R&P Coal.
CONSOL Energy to Expand Joint Venture Mining Operations.
CONSOL Energy To Purchase American Electric Power Mines, Deliver 34 Million Tons of Coal Under Supply Agreements.
CONSOL Energy to Acquire Coalbed Methane Gas Properties.
CONSOL Energy Completes Coalbed Methane Gas Acquisition.
CONSOL Energy Reports October Production Results.
CONSOL Energy Concludes Acquisition of 50 Percent Interest In Australian Mine.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters