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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 8788w ATLANTIC RICHFIELD COMPANY 23rd March 1998 ARCO, Arch Coal Reach Agreement on Sale of ARCO's U.S. Coal Assets LOS ANGELES, March 23 /PRNewswire/ -- ARCO (NYSE: ARC) announced today it has signed an agreement with Arch Coal, Inc. (NYSE: ACI) of St. Louis, Mo., to dispose of ARCO's U.S. coal assets in a transaction valued at approximately $1.14 billion. ARCO's U.S. coal operations include the Black Thunder and Coal Creek mines in Wyoming, the West Elk mine in Colorado, and, through Canyon Fuel Company L.L.C. with ITOCHU Corp. of Japan, three mines in Utah. In the agreement, ARCO Uinta, a subsidiary of Los Angeles-based ARCO, will sell the Colorado and Utah coal operations to Arch Coal. Simultaneously, Arch will combine these operations with ARCO's Wyoming coal operations and its own Wyoming coal operations in a new joint venture called Arch Western Resources LLC. The new company will be 99% owned by Arch and 1% owned by ARCO. ARCO will continue its effort to dispose of its coal properties in Australia. These include joint venture interests in three mines in Queensland -- Curragh, Gordonstone and Blair Athol. ARCO's discontinuance of its coal operations will not have a material impact on the Company's earnings for the year. Last April, ARCO announced its intention to withdraw from the coal business because it was no longer regarded as part of the Company's core business. Contact: Albert Greenstein of ARCO, 213-486-3384 END DISBUGBXIGDCCIX
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