Business
Joint Venture Agreement
Joint Venture Agreement.
About this update from Harworth Group Plc
[{"type":"text","content":"\n UK Coal PLC\n17 March 2006\n\n\n UK COAL PLC\n\n JOINT VENTURE AGREEMENT\n\nUK COAL Plc and Hargreaves Services plc today announce the intended formation of\na 50:50 joint venture company, Coal 4 Energy Ltd.\n\n\nThe new company will market and distribute coal products to the domestic and\nlight industrial markets. Planned to commence trading on 1st April 2006, the new\ncompany will have an annual turnover in the region of £50 million.\n\n\nUK COAL, Britain's biggest coal producer, already has a long term trade\nrelationship with Hargreaves who have the largest bulk delivery fleet in the UK,\nand are the largest independent importers of domestic and industrial coal.\n\n\nThe combination of UK COAL and Hargreaves in this joint venture brings together\nkey producers and suppliers of domestic and industrial coal in the United\nKingdom. The new venture will be located at Kellingley Colliery in West\nYorkshire, currently a major source of coal for the industrial and domestic\nmarkets.\n\n\nThe productive capacity of UK COAL, together with the logistical and marketing\nskills of Hargreaves, will enable both parties through Coal 4 Energy Ltd, to\nmeet market demand in a more efficient and cost effective way, which will be of\nbenefit to the consumer.\n\n\nFor further information:\n\n\nUK COAL\n\nFinancial Ken Cronin Tel: 0207 554 1400\n Mob: 07887 591 499\n\nOperational Stuart Oliver Tel: 01525 381759\n Mob: 07774 231178\n\nHARGREAVES\n\n Gordon Banham Tel: 0191 373 4485\n Peter Dillon Tel: 0191 373 4485\n\n\nBuchanan Communications Diane Stewart Tel: 0207 466 5121\n\n\nBergmans PR Consultants Robin Ashby Tel: 0191 232 1332\n\n\nBackground notes:\n\n\nUK COAL: With its headquarters at Harworth, near Doncaster, UK COAL is Britain's\nbiggest coal producer, with output last year of 10 million tonnes. The company\noperates seven deep mines and produces a range of power station, industrial and\ndomestic coal.\n\n\nHARGREAVES: Based in County Durham, Hargreaves have a long association with UK\nCOAL and in June last year, acquired the Monckton Coke & Chemical Company which\nhad been owned by UK COAL for over a decade. The UK's largest independent\nproducer and distributor of coke products, Hargreaves now employs more than 600\npeople.\n\n\nENDS\n\n\n\n This information is provided by RNS\n The company news service from the London Stoc...