|By PR Newswire||
|February 6, 2014 03:07 PM EST||
BRISTOL, Va., Feb. 6, 2014 /PRNewswire/ -- In continuing efforts to enhance servicing of international customers and take advantage of expanding European markets, Alpha Natural Resources, Inc. (NYSE: ANR), a leading U.S. coal supplier, today announced that subsidiary Alpha Coal Sales International Limited will open a London office.
"Our intent is to build an export platform for U.S. thermal coal that has long-term potential," said Alpha's Chief Commercial Officer Brian Sullivan. "This is another step in moving us further down the value chain as we continue our model of direct customer contact. Having an office in London – the financial center for coal globally – enhances customer support by putting us closer to the market. It also demonstrates Alpha's commitment to supplying the broadest portfolio of high quality Central Appalachian (CAPP) coals to customers across the continent and complements our well-established sales efforts in metallurgical coal."
To lead implementation of that strategy, the subsidiary has named Nick Ingham as vice president of international hedging, sales and marketing to head its London office.
With a background as a thermal coal trader with the U.K.'s largest utility generator, Ingham brings broad experience in the energy industry to his new role. He has served in operations and strategy positions with European utilities for the past decade and holds a Bachelor of Arts degree in business from Staffordshire University.
"We are fortunate to have an individual of Nick's caliber lead our London effort," Sullivan said. "He's widely respected for his strategic acumen and has broad experience in trading gas, power and coal and executing international coal trading strategy. That makes him a great fit to extend our European capabilities."
Alpha's objectives in the European market include increasing customer regard for the quality, reliability and dependability of the company's thermal coals and unsurpassed U.S. export capabilities.
"We have an excellent opportunity to broaden our product portfolio with thermal coal customers in Europe, where we've seen increasingly greater recognition of CAPP thermal coal qualities over the past several years," said Sullivan. "Being closer to the end users of coal enhances our European platform and gives us greater visibility into the important API 2 export market. Exports account for about 40 percent of Alpha's revenues, so this is a critical component in the company's strategy of continuously optimizing our business and building value for shareholders."
Alpha Natural Resources
Alpha Natural Resources is one of the largest and most regionally diversified coal suppliers in the United States. With affiliate mining operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming, Alpha supplies metallurgical coal to the steel industry and thermal coal to generate power to customers on five continents. Alpha is committed to being a leader in mine safety with our Running Right safety process, and an environmental steward in the communities where its affiliates operate. For more information, visit Alpha's website (www.alphanr.com) or like Alpha's Facebook page https://www.facebook.com/AlphaNaturalResources).
SOURCE Alpha Natural Resources