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Joy Global has agreed to buy LeTourneau Technologies from Rowan Companies for $1 billion in cash.
LeTourneau produces earthmoving equipment for surface mining and makes drilling equipment for the mining, oil and gas sectors. The company is a top manufacturer of large-wheel loaders, and boasts the industry's largest model sizes and payload capacities, according to Joy. It is the only manufacturer of electric drive loaders.
LeTourneau's mining and drilling units had 2010 revenue of $259-million and $556-million respectively.
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Local residents were able to hear about some of the bills currently before Congress straight from one of the individuals elected to represent them in Washington, D.C. Congressman David McKinley held a town hall meeting in Weirton's Millsop Community Center on Tuesday, hoping to discuss some of the legislation making its way through the halls of the U.S. Capitol, as well as to hear some of the residents' concerns.
The Republican has hosted two previous town hall meetings within the 1st District. There also have been three telephone town halls, one of which the congressman said included 14,000 participants.
He said many issues have been brought up during those events, but he feels they all end up pointing back to one thing. "It's all about jobs," McKinley said. "You can call it anything, it's all about jobs."
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“It’s appropriate and right that the first focus of the report is on the miners themselves – the 29 men who were lost that terrible day and the one miner who is seriously injured – because we must never forget that they and their families have paid a terrible price.
“We welcome the thoroughness and comprehensiveness of the report and will be reviewing it in detail in the days and weeks ahead. We also look forward to the other three reports that will be issued this year so that everyone can get as full a picture as possible as to the causes of this explosion and take steps to ensure that our mines are operated safely every single day.
“That’s our goal and there have been great strides made over the years to improve safety and working conditions. But we know that we must continue those advancements and we’ll be working with a wide range of interested parties to achieve those objectives.”
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MetroNews
West Virginia Coal Association Chairman Gary White says if the coal industry isn't crippled by federal regulators, bright days could lie ahead.
http://www.wvmetronews.com/
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CHARLESTON, W.Va. (AP) - Some of the nation's fuels would be required to contain a minimum volume derived from coal under a bill introduced in the U.S. House of Representatives.
Republican Shelley Moore Capito of West Virginia said Thursday that using coal to produce fuels for vehicles, machinery and aircraft would further reduce U.S. reliance on foreign oil. She says it also would create good-paying jobs and increase the nation's energy security.
Democrat Nick Rahall is a co-sponsor of the bill.
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