Foundation Coal Plans Buyback

Coal producer Foundation Coal Holdings ( FCL) said Wednesday its board authorized share repurchase program of up to $100 million.

The Linthicum Heights, Md.-based company operates 13 coal mines and related facilities in Pennsylvania, West Virginia, Illinois and Wyoming. Through its subsidiaries, Foundation Coal employs about 3,000 people and produces about 70 million tons of coal annually, largely for utilities generating electricity.

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