The company, which signed a $64.8 million export deal for China and West Africa last October – just months after it spread its wings into the electric power segment – said the move would generate millions of dollars in additional revenue as well as produce higher margins and potential profits.

“The new division will take advantage of the growing demand for coal in countries whose economies and infrastructure are experiencing high growth, have a greater demand for energy, electric power and coal to produce electricity and to manufacture steel,” a Universal official said.

The official said the division would be targeting countries such as China, India, South Korea, Mexico and some European countries, including Germany, England, Ireland and Poland.

Meetings with the US Department of Commerce (DoC) have already been conducted.

Universal will also work with the DoC to make contact with the target countries.

“We have already established domestic and international relationships with a network of coal buyers, brokers, traders, transportation and shipping companies to arrange for the export of coal,” Universal president Vince Guest said.

“We also have established contacts with several embassies and consulates in those targeted countries to arrange for the export of coal and other energy products to meet their growing demands.”

According to the US Energy Information Administration (EIA), the US holds the world's largest estimated recoverable reserves of coal and is a top net exporter.

In its Medium-term Coal Market Report 2012, the EIA projects coal's share of the global energy mix will continue to rise, potentially surpassing its top source, oil, by 2017.

In addition to coal, the publicly held independent produces and markets natural gas, petroleum and propane.