Alpha Natural Resources acquired Massey Energy, a company primarily known for its coal operations, thus effectively taking ownership of what could be referred to as "Massey coal."
The Acquisition of Massey Energy
Massey Energy was a significant entity in the coal industry, operating as a public company. Founded in 1920 in Richmond, Virginia, it grew to become a major coal producer before its ultimate acquisition.
The acquisition of Massey Energy by Alpha Natural Resources meant that all of Massey Energy's assets, including its vast coal reserves, mining operations, and associated infrastructure, were transferred to Alpha Natural Resources. Therefore, when people refer to "Massey coal," they are generally referring to the coal assets and operations that were once part of Massey Energy and subsequently came under the ownership of Alpha Natural Resources.
Key details about Massey Energy prior to its acquisition:
Detail | Description |
---|---|
Company Type | Public company |
Traded As | NYSE: MEE |
Industry | Coal |
Founded | 1920 in Richmond, Virginia |
Fate | Acquired by Alpha Natural Resources |
This acquisition marked a significant consolidation in the U.S. coal sector, with Alpha Natural Resources expanding its footprint and control over substantial coal resources previously managed by Massey Energy.