Macarthur Coal Takeover Now Complete

Peabody Energy (NYSE:BTU) announced it has completed its acquisition of Macarthur Coal (ASX:MCC).

As quoted in the press release:

Peabody’s pro forma Australia sales including the acquisition volumes were 32 million tons in 2010. Pro forma sales are targeted to grow to 45 to 50 million tons by 2014 to 2015, including 22 to 25 million tons of metallurgical coal, which places Peabody Energy among the top tier of global met coal producers.

Peabody’s Chairman and CEO, Gregory H. Boyce said:

The Macarthur purchase advances Peabody’s strategy of expanding our global platform to serve major global demand centers and raising our contribution from higher-margin international assets.

Click here for the Peabody Energy (NYSE:BTU) press release.