JULIAN, W.Va., June 30 /PRNewswire-FirstCall/ -- Massey Energy Company (NYSE: MEE) today announced that the replacement plant for the previously destroyed Bandmill processing plant was damaged by fire.
Yesterday evening, a fire broke out at the Zigmond Processing plant in Logan County, WV. Zigmond
Processing is the replacement plant for the Bandmill processing plant which was destroyed by fire on August 27, 2009. The Company expects the loss will be covered by insurance.
The new plant is in the construction phase, and there were no injuries as the result of the fire. The contractor has not yet determined the cause of the fire.
At this time, the Company expects the plant to be fully operational by December 1, 2010. The Company had previously stated it expected the plant to be fully operational by mid-September 2010. Shipments from the direct ship loadout are still expected to begin during the first half of August 2010. The incident is not expected to have any impact Massey's projected shipments.
Massey Energy Company, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia and is included in the S&P 500 Index.
FORWARD-LOOKING STATEMENTS: Certain statements in this statement constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to come within the safe harbor protection provided by those sections. Any forward-looking statements are also subject to a number of assumptions regarding, among other things, future economic, competitive and market conditions. These assumptions are based on facts and conditions as they exist at the time such statements are made as well as predictions as to future facts and conditions, the accurate prediction of which may be difficult and involve the assessment of circumstances or events beyond our control. We disclaim any intent or obligation to update these forward-looking statements unless required by securities law, and we caution the reader to not rely on them unduly. Additional information can be found in press releases and Massey's public filings with the Securities and Exchange Commission, including Massey's Annual Report on Form 10-K for the year ended December 31, 2009, which was filed on March 1, 2010, and subsequently filed interim reports.
SOURCE Massey Energy Company