James River Coal Considers Selling Company

James River Coal operates the Triad mining complex in Pike and Knox Counties in southwest Indiana.

Source: Inside INdiana Business

Press Release

RICHMOND, Va., March 1 -- James River Coal Company (Nasdaq: JRCC), a producer of steam and industrial grade coal, announced today that it has engaged Morgan Stanley & Co. as financial advisor to assist in exploring various strategic alternatives to maximize shareholder value.

The Company is considering a wide range of options, which may include a possible sale of the Company. The Company has authorized Morgan Stanley to contact and provide information to prospective strategic and financial purchasers. No assurance can be given that any transaction will be pursued, or if a transaction is pursued, that it will be consummated. The Company does not expect to make any further public comment on this issue unless and until the Board of Directors has completed the analysis of strategic alternatives and, if appropriate, approved a definitive transaction.

James River Coal Company mines, processes and sells bituminous steam and industrial-grade coal primarily to electric utility companies and industrial customers. The Company's mining operations are managed through six operating subsidiaries located throughout eastern Kentucky and southern Indiana.

Source: James River Coal Co.