Alpha keen to make acquisitions

THERE is no confirmation that Alpha Natural Resources will make a takeover play for Whitehaven Coal, but the major American coal company has made it clear it will pursue growth overseas.
Alpha keen to make acquisitions Alpha keen to make acquisitions Alpha keen to make acquisitions Alpha keen to make acquisitions Alpha keen to make acquisitions

Alpha Natural Resources' headquarters in Abingdon, Virginia.

Blair Price

“Following the successful merger with Foundation Coal in 2009, Alpha has consistently stated its intention to continue to successfully grow the company in a strategically sound and thoughtful manner, both in the US and abroad,” Alpha stated earlier this month.

“To that end, Alpha has engaged in commercial and strategic discussions with various parties throughout the world who are in a position to expand Alpha's participation in these long-term global growth markets.

“It would be inappropriate to disclose the content of such discussions, which are typically exploratory in nature and subject to confidentiality agreements, and there is no assurance that any such discussions will result in a transaction.”

Alpha chief executive officer Kevin Crutchfield said the company has a strong liquidity position, low leverage and a strong balance sheet.

“We will continue to prudently pursue growth opportunities, both through organic development and through strategic acquisitions, with the goal of enhancing shareholder value over the long-term,” he said.

“As we have in the past, we will continue to regularly inform our stakeholders about our strategic views, and we will share details of Alpha's future growth opportunities as appropriate."

Whitehaven has been open to offers for a considerable time and various press reports in recent weeks suggest Alpha and investment house First Reserve might launch a takeover for the independent Australian coal producer.

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