Peabody Energy (NYSE: BTU) Opens New Coal Trading Office in Germany
ST. LOUIS, Sept. 27, 2011 /PRNewswire/ -- Peabody Energy
today announced it has opened an office in Essen, Germany, further expanding the Peabody COALTRADE platform in the most liquid of global coal markets.'Germany is a European commodities hub, and the Essen office further strengthens our access to growing markets for seaborne coal on the Continent,' said Richard A. Navarre, Peabody Energy President and Chief Commercial Officer. 'Our presence in Essen broadens our sourcing and shipping capabilities to deliver coal from Peabody's U.S. operations to European customers, who increasingly are turning to coal to displace nuclear generation and high-cost natural gas.'
Peabody's Essen office will be headed by Juergen Treschan, who has been named Director of Trading and Logistics - Northern Europe. He will oversee international trading activities in Germany and neighboring countries. Treschan has more than 30 years of experience in sales, marketing and trading, and mining. He reports to Alex Baileff, head of Peabody COALTRADE's London office.
Peabody's coal sales, trading and brokerage platform serves customers in more than 25 nations across six continents.
Peabody is the world's largest private-sector coal company and a global leader in clean coal solutions. With 2010 sales of 246 million tons and nearly $7 billion in revenues, Peabody fuels 10 percent of U.S. power and 2 percent of worldwide electricity.
CONTACT:
Beth Sutton
(314) 342-7768
Peabody Energy
Web site: http://www.peabodyenergy.com/