Southern Coal Gets AEP Contract, Recalls Workers
ROANOKE, Va. (AP) â¿¿ Southern Coal Corp. is recalling several hundred laid-off miners in Kentucky, Virginia and West Virginia and plans to hire 650 new workers.
Roanoke-based Southern Coal announced Tuesday that it has entered into a multiyear contract to supply coal to American Electric Power. The contract will allow it to restart mines idled earlier this year and to save 500 jobs.
Southern Coal is owned by the Justice family, which includes Jim Justice, who also owns The Greenbrier resort. He and his son Jay Justice said in a statement that they hope the announcement makes the holidays "a little better" for those affected.
Kentucky Gov. Steve Beshear, Virginia Gov. Bob McDonnell and West Virginia Gov. Earl Ray Tomblin say the AEP contract is good news for the workers and their states' economies.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts