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Foundation Coal Adjusts Production and Workforce Levels in Central Appalachian Operations

Friday, June 5th, 2009

Foundation Coal Holdings, Inc. announce that its Central Appalachian affiliates are adjusting production levels in order to match current product demand. Foundation affiliate Kingston Resources is moderating planned production at the Kingston mine to reflect decreased shipments year-to-date and reduced demand for the balance of the year. Likewise, Foundation’s affiliated surface mining operations are reducing planned production due to reduced demand in current market conditions. As a result of the revised production levels, the workforce has been reduced by approximately 60 employees.
James F. Roberts, Chairman and Chief Executive Officer, commented, “Current market conditions have impacted demand for coal across the board, and we have decided to adjust production accordingly. We regret the need to take these actions and the resulting impacts upon the affected employees and their families. Unfortunately, we must recognize the current imbalance between demand and supply and take appropriate measures. These production cuts are within the range anticipated in the revised shipment guidance provided on our first quarter earnings call and do not change our expectations for full year 2009 shipments.”
Mr. Roberts continued, “Looking ahead, following the completion of our merger with Alpha Natural Resources, the combined company will stand ready to increase production when demand growth resumes and will be positioned to deliver future growth with an industry-leading balance sheet and liquidity position.”
For further information visit: www.foundationcoal.com

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