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Article: Arch Coal Completes Acquisition of Jacobs Ranch.
- Article from:
- PR Newswire
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Arch Coal, Inc. today announced that it has completed the acquisition of Rio Tinto's Jacobs Ranch mine for a purchase price of approximately $764 million, which includes an estimate for working capital adjustments. In 2008, Jacobs Ranch produced 42.1 million tons of high-quality sub-bituminous coal for sale to U.S. power generators.
"We are enthusiastic about completing the acquisition of Jacobs Ranch," said Steven F. Leer, Arch's chairman and chief executive officer. "This transaction further expands Arch's size, scale and strategic position in the Powder River Basin - the largest, fastest growing and most cost-competitive coal supply region in the nation. ...