Drummond Company Welcomes Itochu Coal Americas Inc. to Birmingham, Alabama
As announced in the June 15, 2011 Press Release, Drummond Company, Inc. and affiliates (“Drummond”) reached an agreement with ITOCHU Corporation (“ITOCHU”) to enter into a partnership where Drummond now owns 80% and ITOCHU owns 20% of a new entity, Drummond International, LLC (“Drummond International”), which owns and operates the Colombian coal mining operations and transportation infrastructure (the “Colombian Operations”), previously owned 100% by Drummond.
ITOCHU now owns 20% of the Colombia Operations through a new subsidiary, ITOCHU Coal Americas Inc. (“ICA”) which is based in Birmingham, Alabama. Drummond is pleased to welcome ICA to the Birmingham area and its executives Mr. Kazuo Inagaki, President and CEO; Mr. Kotaro Suzuki, Executive Vice President Business Development and Marketing and Mr. Takashi Hanaki, Chief Financial Officer.
ICA’s headquarters is located at 1000 Urban Center Drive, Suite 660, Birmingham, Alabama 35242.