Massey Energy
 |
|
| Public | |
| Industry | Coal |
| Fate | Acquired by Alpha Natural Resources |
| Founded | 1920 (Richmond, Virginia) |
| Headquarters | Richmond, VA |
|
Key people
|
Don Blankenship, Chairman & CEO Baxter Phillips, President Christopher Adkins, SVP & COO John Poma, VP & CAO Shane Harvey, VP & General Counsel |
| Revenue | $2.69 billion (12-31-09) |
| $104.4 million (12-31-09) | |
|
Number of employees
|
approx. 5,850 |
| Website | www.alphanr.com |
Massey Energy Company was a coal extractor in the United States with substantial operations in West Virginia, Kentucky and Virginia. By revenue, it was the fourth largest producer of coal in the United States and the largest coal producer in Central Appalachia. By coal production weight, it was the sixth largest producer of coal in the United States.
Massey's mines yielded around 40 million tons annually. The company controlled 2.3 billion tons of proven and probable coal reserves in Southern West Virginia, Eastern Kentucky, Southwest Virginia and Tennessee or about a third of all Central Appalachian reserves. It employed approximately 5,850 people and operated 35 underground mines and 12 surface mines.
Massey Energy owned and operated Upper Big Branch Mine where 29 miners were killed in April 2010. The Mine Safety and Health Administration found that the company's culture of favoring production over safety contributed to flagrant safety violations that caused the coal dust explosion. It assessed $10.8 million in fines for 369 citations and orders, the largest for any mine disaster in U.S. history. Alpha Natural Resources additionally settled Massey's potential criminal liabilities for $209 million.
In January 2011, it was announced that Massey Energy company would be bought by competitor Alpha Natural Resources for $7.1 billion. More than 99% of Massey shareholders and 98% of Alpha shareholders voted in favor of the acquisition and courts in Delaware and West Virginia agreed with the shareholders' vote.
A.T. Massey incorporated the A.T. Massey Coal Company in 1920 as a coal brokering business in Richmond, Virginia, and served as the company’s first president. A.T. Massey acquired its first mining operation in 1945 and expanded its business to include coal mining and processing. Five generations of the Massey family headed the company, including Evan Massey in 1945, William E. Massey in 1962 and E. Morgan Massey in 1972.
St. Joe Minerals acquired controlling interest in A.T. Massey in 1974. Six years later, St. Joe Minerals sold a part-interest in A. T. Massey to Royal Dutch Shell, forming the Massey Coal Partnership to run the company. In 1981, the Fluor Corporation acquired St. Joe Minerals. In 1984, the United Mine Workers of America went on strike against A.T. Massey, sparking a series of confrontations documented in the film Mine War on Blackberry Creek. Fluor bought Royal Dutch Shell's interest in the Massey Coal Partnership in 1987 and changed its name back to A. T. Massey Coal Company, initiating a period of significant growth through acquisitions.
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Wikipedia