PITTSBURGH, Jan. 20 /PRNewswire-FirstCall/ -- CONSOL Energy Inc. , through a subsidiary, has completed the previously announced acquisition of Mon River Towing and J.A.R. Barge Lines, LP, from The Guttman Group.
CONSOL Energy's river and dock operations currently transport approximately 11 million tons of coal annually with its five towboats and nearly 300 barges. After the transaction has been completed, the combined river and dock operations will have 18 towboats and more than 650 barges with the capacity to transport 24 million tons of coal, annually. Revenues from the combined operations were approximately $45 million in 2005.
Mon River Towing also transports petroleum products, coal, limestone and other bulk commodities to various locations along the navigable rivers of Pennsylvania, Ohio, West Virginia and Kentucky. J.A.R. Barge Line charters motor vessels and barges to other river transportation firms along the inland waterways. CONSOL Energy expects to continue to provide these business services through its river and dock operations.
CONSOL Energy Inc., through its subsidiaries, is the largest producer of high-Btu bituminous coal in the United States. CONSOL Energy has 17 bituminous coal mining complexes in six states. In addition, the company is a majority shareholder in one of the largest U.S. producers of coalbed methane, CNX Gas Corporation. CONSOL Energy Inc. has annual revenues of $2.8 billion. The company was named one of America's most admired companies in 2005 by Fortune magazine. It received the U.S. Department of the Interior's Office of Surface Mining National Award for Excellence in Surface Mining for the company's innovative reclamation practices in 2002 and 2003. Also in 2003, the company was listed in Information Week magazine's "Information Week 500" list for its information technology operations. In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award.
Additional information about the company can be found at its web site: http://www.consolenergy.com/.
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