Walter Industries acquires Alabama-based coal company

摘要

United Land Corporation, a subsidiary of Walter Industries, acquired Taft Coal Sales & Associates, based in Jasper, Alabama for US23.5 million. Taft is a central Alabama surface coal producer with steam, industrial and met coal reserves. Taft operates a surface steam and industrial coal mine with the ability to produce 600,000 short tons/ year. Reserves at the surface steam mine are estimated at 4.3 million tons. In addition, Taft has 500,000 tons of met coal reserves, which Walter plans to start mining in 2009.