Arch Coal emerges from Chapter 11

Arch Coal Inc. said it recently emerged from financial restructuring and court protection, moving the company out from under Chapter 11 and allowing new Arch Coal equity to be traded on the New York Stock Exchange.

“Today marks the beginning of a new era for Arch Coal,” Arch CEO John Eaves said. “We are extremely pleased with what we have accomplished during our highly expeditious restructuring process and are eager to move forward with our compelling plan for value creation. I am confident we have all the pieces in place for long-term success – an extraordinary workforce, cost-competitive assets, a high-quality reserve base, a clean balance sheet and an excellent management team.”

The company is the country’s leading producer of metallurgical coal and the second largest producer of thermal coal. The company’s total debt is just 7 percent of its pre-restructuring level, at $363 million, while its balance sheet boasts more than $300 million in cash.

“We are enthusiastic about Arch’s promising future and the potential to drive sustainable value creation for our shareholders,” Eaves said. “I would like to extend my deepest appreciation to Arch’s employees, who have been instrumental in achieving this excellent outcome. Looking ahead, we will continue our efforts to manage costs rigorously, provide superior service to our customers and strengthen relationships with our business partners, while demonstrating the same unwavering commitment to mine safety and environmental protection that has become a hallmark of our great company.”