Foundation Coal Cuts Production, 60 Workers
- Loading Comments...
LINTHICUM HEIGHTS, Md. (AP) — Mine operator Foundation Coal Holdings Inc. on Friday said its Central Appalachian affiliates are slashing production levels to meet current demand and laying off 60 workers.
The company's affiliate Kingston Resources is adjusting production at the Kingston mine to reflect lower shipments year-to-date and reduced demand for the rest of the year. Foundation's affiliated surface mining operations are also cutting production due to scaled back demand amid tough economic conditions.
"These production cuts are within the range anticipated in the revised shipment guidance provided on our first quarter earnings call and do not change our expectations for full year 2009 shipments," said James Roberts, chief executive. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,405.83 | 1,102.35 | 2,190.86 | 34.82 |
Oil *
71.98
|
|
UP
68.78
|
UP
6.41
|
UP
7.13
|
UP
0.59
|
10 Yr
3.48%
SPDR Gold
110.82
|
|
+0.67%
|
+0.58%
|
+0.33%
|
+1.72%
|
Data delayed 20 minutes |
Connect with TheStreet