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Alpha exec says $7B Massey deal was right to do

Thursday - 2/2/2012, 10:53am  ET

CHARLESTON, W.Va. - An Alpha Natural Resources executive says the Virginia coal company still believes its $7 billion purchase of troubled Massey Energy last year was the right deal to do.

Senior vice president Mark Schuerger told industry leaders Thursday in Charleston there are many days Alpha feels like it's under corporate attack, but it will keep fighting.

Major challenges include federal environmental policies and the growth of the natural gas industry as a cheap source of energy.

But Schuerger says the Massey acquisition gives Alpha flexibility, access to markets and control over the largest block of coal-rich reserves in southern West Virginia.

The industry is unpredictable and competitive, but challenges create opportunity.

Schuerger says that rather than shrink from those challenges, Alpha will continue to grow because in its business, size matters.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)