Message #7 From:
NewsBot Date: September 1, 2006 07:55:00 AM
FCL News Foundation Coal Holds Grand Opening to Commemorate New Loadout Facility
LINTHICUM HEIGHTS, Md.--(BUSINESS WIRE)--Sept. 1, 2006--Foundation Coal Holdings, Inc. (NYSE:FCL) today announced, the grand opening ceremony of a new coal loadout facility in Pax, West Virginia. The new facility is managed and operated by Foundation Coal affiliate, Pioneer Fuel Corporation. The ceremony also honored and named the loadout after the late Ronald J. Hopkins, a former West Virginia native and Foundation Coal affiliate employee. West Virginia Governor, Joe Manchin III, and other State dignitaries were present at the commemoration.
The new state-of-the-art unit-train and batch weigh "Hopkins" Loadout facility is designed to service trains of up to 100 rail cars, and took two years to complete. The planning and construction phases required thousands of man-hours and collaborative efforts between Pioneer Fuel Corporation, CSX Transportation, RJ Corman Railroad Group and several agencies throughout West Virginia.
"This new asset not only underscores Foundation Coal's commitment to being a safe and efficient coal producer, it also signifies the positive ripple affects of partnering. The joint efforts of many have created increased opportunities for higher wages and local employment, not to mention the economic impacts for many businesses and tax revenues for the State of West Virginia," stated James F. Roberts, Foundation Coal, chairman and chief executive officer.
Through direct rail access via CSX Transportation and RJ Corman Railroad Group, the facility expands loading and shipment of coal products. This enhancement allows for improved market penetration throughout the Eastern United States and provides Foundation with opportunity to make products available to export markets. Foundation Coal's Central Appalachian affiliated business units include four mining complexes in West Virginia. The mining operations offer a wide variety of high quality steam, industrial and metallurgical coals. Combined, the West Virginia affiliated operations control nearly 200 million tons of reserves.
Governor Joe Manchin III stated, "We appreciate Foundation Coal's investment in West Virginia's coal industry. This new facility plays a crucial role, impacting our local and state economies through sustainable employment, while remaining competitive and contributing to the nation's energy supply."
Foundation Coal Holdings, Inc., through its affiliates, is a major U.S. coal producer with 13 coal mines and related facilities in Pennsylvania, West Virginia, Illinois, and Wyoming. Through its subsidiaries Foundation Coal employs approximately 3,000 people and produces approximately 70 million tons annually, largely for utilities generating electricity. Foundation's corporate offices are in Linthicum Heights, MD.
