Contura Completes Acquisition, Alpha Names Stetson CEO

Contura Energy completed the previously announced acquisition of several core assets from Alpha Natural Resources (ANR), which was a key step for Alpha to emerge from Chapter 11 bankruptcy. Contura will be a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming. It also purchased Alpha’s interest in the Dominion Terminal Associates coal export terminal in eastern Virginia. Contura will be led by former Alpha CEO Kevin Crutchfield and will have a workforce of more than 2,200 former Alpha employees.

The new, reorganized Alpha will be a smaller, privately held company operating 18 mines and eight prep plants in West Virginia and Kentucky. David Stetson, who was appointed CEO of the reorganized company (See People, p. 18), said, “By completing this restructuring, ANR emerges as a company with a solid financial foundation and a strong team to continue to mine and sell coal. We are now also better positioned to satisfy ANR’s environmental responsibilities.” Alpha and its affiliates will have offices in Julian, West Virginia, and Kingsport, Tennessee, supporting operations at 14 mining complexes in Central Appalachia.

As featured in Womp 2016 Vol 09 -