Walter's new coal look

METALLURGICAL coal producer Walter Industries has been renamed Walter Energy to better reflect its transformation into a natural resources and energy company.
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Jim Walter Resources Mine No. 7.

Staff Reporter

The Florida-based company, which announced the name change at its annual general meeting, also announced name changes for two of its subsidiaries.

 

United Land, which encompasses the company's surface mining operations, will now operate as Walter Minerals, while Sloss Industries and its metallurgical coke and mineral fibre divisions will now operate as Walter Coke.

"Now that our transformation into a 'pure play' natural resources and energy company is complete, our board, with the support of our shareholders, decided to modify our name to better communicate the space in which we operate," Walter Energy chairman Michael Tokarz said.

 

"By its very nature, the term ‘Industries’ implies operation in two or more industries and we are now squarely focused in the energy resources sector, led by our metallurgical coal business.

 

"All of our companies will share a unified visual identity, which will help us communicate both internally and externally that, while we may operate separate businesses, we all work for one company and, ultimately, are accountable to the same shareholders.”

 

Last week, the company announced that it had wrapped up the separation of its financing business and the merger of that business with Hanover Capital Mortgage Holdings to create Walter Investment Management Corp – a publicly traded real estate investment trust.

 

Walter Energy is a leading producer and exporter of metallurgical coal for the global steel industry and also produces steam coal and industrial coal, metallurgical coke and coal bed methane gas.

 

The company has revenues of around $US1.2 billion and currently employs approximately 2150 people.

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