CONSOL Energy Completes AMVEST Corporation Acquisition
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PITTSBURGH, Aug. 1 -- CONSOL Energy Inc. (NYSE:CNX) has completed the previously announced acquisition of AMVEST Corporation and certain of its subsidiaries and affiliates, including AMVEST West Virginia Coal and Vaughan Railroad Company.
Included in the acquisition are approximately 200 million tons of low-sulfur coal reserves. When combined with CONSOL's 100 million tons of adjacent coal reserves to the north, this acquisition creates a reserve block of nearly 300 million tons of surface and underground coal.
Also included in the acquisition are four coal preparation plants, several fleets of modern mining equipment, and a common carrier short line railroad that connects the preparation plants to the CSX and Norfolk and Southern rail interchanges.
CONSOL Energy Inc., a member of the Standard & Poor's 500 equity index, has annual revenues of $3.7 billion. The company was named one of America's most admired companies in 2005 by Fortune magazine. It received the U.S. Department of the Interior's Office of Surface Mining National Award for Excellence in Surface Mining for the company's innovative reclamation practices in 2002 and 2003. Also in 2003, the company was listed in Information Week magazine's "Information Week 500" list for its information technology operations. In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award. Additional information about the company can be found at its web site: www.consolenergy.com.
Contact: Charles E. Mazur, Jr. at (412) 831-4340
Source: CONSOL Energy Inc.
CONTACT: Charles E. Mazur, Jr. of CONSOL Energy Inc., +1-412-831-4340
Web site: www.consolenergy.com/
