SEATTLE, Oct. 18, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a Seattle-based company with a five-year track record of profitable coal operations in China, is pleased to announce today it has signed an updated contract to sell 360,000 tons of coal to Datang International Power Co. ("Datang"). Datang is one of China's largest power generators.
On October 15, 2012, L&L entered into a contract with Datang to increase its coal supplied to 360,000 tons through September 2013. The contract is timed for the higher demand over the winter season and firming of coal prices in the region. L&L will begin shipments this month, ramping up to a targeted 37,000 tons per month in early 2013. L&L satisfied Datang's stringent vendor qualification process and delivered a trial shipment in June. The updated contract is a realization of the company's consolidation and distribution strategy, with emphasis on building business relationships with major coal players in China. Datang also noted L&L's strong logistics network, particularly its access to limited railroad capacity in the region which helps ensure timely deliveries to the Company's customers.
L&L's Chairman and CEO Dickson Lee commented, "I am pleased with this new contract, which is another step in cementing our relationship with Datang. We look forward to supplying more coal to Datang beyond this contract."
Forward Looking Statements The statements contained words that are not historical fact, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and that involve a number uncertainties. Actual results of the future events described in this document could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.Contacts: L&L Energy, Inc.(206) 264-8065 firstname.lastname@example.org SOURCE L&L Energy, Inc.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV