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Nov. 5, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a
Seattle-based company with track record of profitable coal operations in
China, announced that it has entered into a strategic project agreement with Taggart (
Beijing) Engineering Ltd. ("Taggart"), an affiliate of Taggart Global, to jointly expand each other's coal businesses in
Taggart Global, a US based firm located in
Pittsburgh, Pennsylvania, is known for innovative engineering and construction of environmental friendly coal washing and loading plants. Taggart's advanced coal preparation facilities have increased coal processing efficiency for their customers, including Anglo Coal, Peabody, and Shenhua. Taggart's
China sales primarily include state owned mining operations, as most private mining operators lack economy of scale for Taggart's specialized washing and blending facilities. However, the coal quality produced from such technology is key for large end users, such as Datang Power.
Under the agreement, L&L, an American based coal company with coal mining resources and a logistics platform in
China, will jointly build facilities with Taggart, utilizing each other's advantage to mutually expand their coal businesses.
Dickson Lee, L&L Chairman & CEO, commented, "I am very pleased with the signing of this strategic alliance. Our Board of Directors, led by Mr. Jingcai Yang, has shown great leadership and teamwork developing this relationship. The partnership with Taggart will enhance L&L's ability to bridge small coal mines and large end users, further improving our wholesale and logistics platform in line with our consolidation strategy."
Forward Looking Statements
The release contains statements related to the Company's future performance and is within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve uncertainties, and actual results of the future events described in this release could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.