MARKETS

Massey Energy goes global

MASSEY Energy has progressed its strategy for increasing met coal production and sales by establi...

Donna Schmidt
Massey Energy goes global

The Virginia-based producer said that Massey European Sales, its first global extension, would help the company to increase the global marketing of its met quality product.

“As the world economies continue to emerge from the global recession, our European sales office will help us to increase metallurgical coal sales and take full advantage of improving market conditions,” company president Baxter Phillips Jr said.

Centrally located in Europe, Massey said it can now better serve European customers while identifying and establishing new clients in Eastern Europe and the Middle East.

The Switzerland office will be led by Andrea Penengo, whose experience includes marketing met and steam coals as well as iron ores and cokes to the European, South American, Australian and Asian markets. He was most recently the raw material sales manager for Evraz Group subsidiary East Metals SA.

“Massey believes that the supply of high-quality metallurgical coal will continue to tighten as the recovery in the global manufacturing sector continues,” Phillips said.

“Massey’s presence in Europe and Mr Penengo’s expertise will help Massey add significant shareholder value by expanding Massey’s global customer base for exported metallurgical coal.”

The company made an unofficial announcement of the expansion during its recent quarterly earnings statement.

It pointed out at the time that the international office would play an especially important role as Massey integrates its recently acquired Cumberland Resources assets.

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