Peabody Energy Corporation is the largest private coal company in the world [2] , which filed for bankruptcy on April 13, 2016 [3] . Headquartered in St. Louis , Missouri . The company's activities are concentrated in the USA , Australia , Indonesia , China , Mongolia , India . From the coal mined by the company, approximately 10% of the electricity in the United States and about 3% of the world's electricity are generated.
| Peabody energy corporation | |
|---|---|
| Type of | Public company |
| Exchange listing | |
| Base | 1883 year |
| Founders | |
| Location |  St. Louis , Missouri , USA |
| Key figures | Gregory Boyce (President) |
| Industry | coal mining |
| Turnover | ▲ $ 6.860 billion ( 2010 ) |
| Operating profit | ▲ $ 1.326 billion ( 2010 ) |
| Net profit | ▲ $ 0.805 billion ( 2010 ) [1] |
| Number of employees | 7,200 people ( 2009 ) |
| Auditor | Ernst & young |
| Site | www.peabodyenergy.com |
History
The history of the company begins in 1883 with the creation of Peabody, Daniels & Company. One of the founders of the company is Francis Peabody, who in 1890 becomes the full owner of the company, having bought the share of his partner. Initially, the company bought coal from producers and sold it at retail in Chicago. However, in 1895, the company acquired its first mine in Illinois.
In 1913, the company entered into its first major contract for the supply of fuel for a power plant. This type of activity is the main for the company these days.
In 1929, the company went through the listing procedure on the Western Stock Exchange, and since 1949, the company's shares are traded on the New York Stock Exchange .
By the beginning of the 50s, the company was faced with serious financial problems. To overcome the crisis, the company went into a merger with Sinclair Coal Company, which took place in 1955 . However, the combined company retained the name Peabody. The company's headquarters moved to St. Louis , Missouri . The head of the new company was Russell Kielce. After the merger, the company acquired its first foreign asset - mines in Queensland , Australia .
In 1968, the company was acquired by Kennecott Copper Corporation. But the deal was challenged by the Federal Trade Commission as violating antitrust laws and was canceled in 1976 . The newly created Peabody Holding Company acquired Peabody Coal from Kennecott for $ 1.1 billion.
In 1990, one of the owners of the Hanson plc. bought the shares of other owners and resold the company to investment bank Lehman Brothers . The company again carried out an initial public offering of shares on the stock exchange, the placement price amounted to $ 456 million
In 2006, the company acquired Australian Excel Coal Limited for $ 1.75 billion.
Company Activities
In 2010, the company produced more than 220 million tons of coal. The company's proven and probable coal reserves are 9.013 billion tons.
The company's capitalization exceeds $ 8 billion ( 2012 ) [4] .
Notes
- ↑ Company Report 2010 Archived January 25, 2012.
- ↑ Peabody Energy Company Description
- ↑ Top coal miner Peabody files for bankruptcy . The Sydney Morning Herald. Date of treatment April 13, 2016.
- ↑ Peabody Energy Corporation on the NYSE (Unavailable link) . Date of treatment September 29, 2017. Archived on April 13, 2014.