Sunday, October 28, 2007
Massey Reports Profit in Third Quarter.
Massey Energy reported a profit of 8.5 percent in the third quarter. The company reported a net gain of 21.4 million dollars for the quarter.
Massey officials say that the profit was due to selling coal at a higher price. Chief Executive Don Blankenship says the company is on pace for record revenue and earnings per share this year.
Massey also is planning a major expansion. The company plans to open more mines and changes at others will add eight million tons of new production by 2010.
Projects are in the works for Mingo, Boone, Wyoming and Kanawha counties.
Massey officials say that the profit was due to selling coal at a higher price. Chief Executive Don Blankenship says the company is on pace for record revenue and earnings per share this year.
Massey also is planning a major expansion. The company plans to open more mines and changes at others will add eight million tons of new production by 2010.
Projects are in the works for Mingo, Boone, Wyoming and Kanawha counties.
# posted by Joe Kinzer @ 7:18 AM 
