版本:
中国

UPDATE 1-Arch Coal's turnaround plan confirmed by U.S. court

(Adds details and background)

Sept 13 U.S. coal miner Arch Coal won court approval on Tuesday for a plan to eliminate $4.7 billion of debt from its balance sheet, the company said, clearing the path to emerge from bankruptcy in early October.

The second largest U.S. coal producer filed for Chapter 11 protection in January after a failed attempt to restructure with bondholders out of court, joining a handful of other coal companies who have been forced into bankruptcy during a harsh industry downturn.

Under a reorganization plan confirmed by U.S. Bankruptcy Court in St. Louis on Tuesday, the company's senior lenders will have control of most of the company.

"We will emerge as a strong, well-positioned natural resource company with a compelling plan for value creation," Arch's CEO John W. Eaves said in a statement.

Arch supplies both domestic and international clients and derives most of its coal from the high-performing Powder River Basin in Wyoming. (Reporting by Tracy Rucinski; Editing by Andrew Hay)

更多 公司新闻(英文)

热门文章

编辑推荐

文章推荐