BNET Industries

Market Cap:$707.5M
Last Fiscal Year Sales:$849.1M
  • Public
  • US
Dow Jones Description

International Coal keeps the lights on. Founded in 2004 and headquartered in Ashland, KY, International Coal Group, Inc. (NYSE: ICO) produces, processes, and markets coal. The company has 11 mining complexes, from which it supplies electric utilities and steelmakers. It has reserves of about 315 million tons of metallurgical coal and about 600 million tons of steam coal. Its facilities are located in Kentucky, West Virginia, and Illinois. It has annual revenue of about $647.7 million and employs about 2,023 people. In 2005, it acquired Anker Coal and CoalQuest, adding five major mining complexes and 374 million tons of reserves, and the Greymont Coal assets, which further increased reserves by 13.5 million tons.

Chief Executive Officer
Bennett K. Hatfield
Number of Employees 2,166
Contact Information

2000 Ashland Dr

Ashland, Kentucky 41101-7058

www.intlcoal.co...

(606) 920-7400

NAICS Code Bituminous Coal and Lignite Surface Mining: 212111

Recent Events

  • ICG blames Allegheny Energy for Harrison mine closure

    11/01/09 - Financial Announcement - View Story

  • Coal producer ICG says profit doubled in Q3

    10/28/09 - Financial Announcement - View Story

  • International Coal Group's ICG ADDCAR Systems Acquires International Patent Rights To Its Highwall Mining Machines...

    9/15/09 - Merger / Acquisition - View Story

  • CNSV Receives Initial Royalty Revenues From Coal Being Mined on a Portion of its...

    9/09/09 - Legal Settlement - View Story

  • International Coal Group Reports Second Quarter 2009 Results

    7/29/09 - Financial Announcement - View Story

  • International Coal Group Inc. ICO reports 3rd Quarter ending September 2009 above estimates

    7/28/09 - Financial Announcement - View Story

News & Analysis

international coal group - All News and Analysis

Decision Makers

Name (plus bio) Position
Bennett K. Hatfield Chief Executive Officer
Bradley W. Harris CFO & Vice President
Lance G. Sogan Executive Vice President, HR & Admin
Marc R. Merritt Senior Vice President, Sales & Marketing
Michael Hardesty Senior Vice President Â?? Sales & Marketing
Oren Eugene Kitts Senior Vice President Â?? Mining Services
Roger L. Nicholson Senior Vice President
Samuel R. Kitts Senior Vice President Â?? West Virginia & Maryland Operations
William Scott Perkins Senior Vice President Â?? Kentucky & Illinois Operations
Charles Snavely Vice President Â?? Planning and Acquisitions
Ira Gamm Vice President, Investor & Public Relations
William D. Campbell Vice President, Accounting and Treasury
Stanley Gaines Director
Wendy L. Teramoto Director
William J. Catacosinos Director

Board of Directors

Name (plus bio) Position
Wilbur L. Ross Jr. Chairman
Cynthia B. Bezik Board of Directors
Jon R. Bauer Board of Directors

Mr. Hatfield has been our President and Chief Executive Officer since March 2005. Prior to joining us, Mr. Hatfield served as President, Eastern Operations of Arch Coal,Inc., a producer of coal in the eastern and western United States, from March 2003 until March 2005. Prior to joining Arch Coal, Inc., Mr. Hatfield was Executive Vice President of El Paso Energy’s Coastal Coal Company, a Central Appalachian coal producer, from December 2001 through February 2003. That assignment was preceded by a lengthy career with Massey Energy Company, a Central Appalachian coal producer, where he last served as Executive Vice President and Chief Operating Officer from June 1998 through December 2001. Mr. Hatfield has a B.S. in mining engineering from Virginia Polytechnic Institute and University.

Organization Position Status
International Coal Group, Inc. Chief Executive Officer Current
Arch Coal, Inc. Vice President, Operations Current
International Coal Group, Inc. Director Current
International Coal Group, Inc. President Former
Arch Coal, Inc. President, Eastern Operations Former
Massey Energy Company Chief Operating Officer Former
Massey Energy Company Executive Vice President Former

Mr. Harris has been our Senior Vice President and Chief Financial Officer since September 2006. Prior to joining us, Mr. Harris was Executive Vice President and Chief Financial Officer of GMH Communities Trust, a self-advised, self-managed, specialty housing company, or GMH, where he was responsible for financial reporting, accounting, information technology and human resources from August 2004 through March 2006. From April 2004 through July 2004, Mr. Harris served as a consultant for GMH Associates, Inc. and GMH on accounting matters. In July 2004, Mr. Harris was appointed Senior Vice President and Chief Accounting Officer of GMH, and was appointed Chief Financial Officer in August 2004. From September 1999 through March 2004, Mr. Harris served as Vice President and Chief Accounting Officer of Brandywine Realty Trust, an office property REIT. From 1996 through 1999, Mr. Harris served as the Controller of Envirosource, Inc., a service provider to the steel industry. From 1981 to 1996, Mr. Harris worked for Ernst & Young LLP, most recently as an Audit Senior Manager, specializing in real estate. Mr. Harris received a B.S. in accounting in 1981 and an M.B.A. in 1986, both from Lehigh University. Mr. Harris is a Certified Public Accountant.

Organization Position Status
International Coal Group, Inc. CFO & Vice President Current

Organization Position Status
International Coal Group, Inc. Executive Vice President, HR & Admin Current

Organization Position Status
International Coal Group, Inc. Senior Vice President, Sales & Marketing Current

Mr. Hardesty has been our Senior Vice President, Sales and Marketing since April 2005. Previously, Mr. Hardesty held various positions with Arch Coal, Inc., a producer of coal in the eastern and western United States. Mr. Hardesty was (i) Vice President, Commercial Optimization from January 2005 through April 2005, (ii) Vice President, Marketing Services from July 2002 through January 2005 and (iii) Director of Marketing Services from August 1998 until July 2002. Mr. Hardesty received his B.S. in accounting from University of Kentucky.

Organization Position Status
International Coal Group, Inc. Senior Vice President Â?? Sales & Marketing Current
Arch Coal, Inc. Vice President, Market Services Former
Arch Coal, Inc. Director Market Services Former
University of Kentucky B.S. In Accounting Former

Mr. Kitts has been our Senior Vice President, Mining Services since May 2005. Prior to his employment with us, Mr. Kitts was most recently Vice President, Environmental & Technical Affairs for Eastern Operations at Arch Coal, Inc. from May 2003 until joining us. Prior to Arch, Mr. Kitts was a partner in Summit Engineering Company, a Central Appalachian regional mining and civil engineering company, from May 1996 until May 2003. Prior to March 1996, Mr. Kitts spent over twelve years with Massey Coal, a Central Appalachian coal producer, in a variety of technical and management assignments, including president of Massey Coal Services. Mr. Kitts initially worked for Pickands Mather & Company, an iron ore mining and shipping company, as the environmental engineer for their coal mining operations in southern West Virginia and eastern Kentucky. Mr. Kitts has a B.S. in civil engineering from West Virginia University.

Organization Position Status
International Coal Group, Inc. Senior Vice President Â?? Mining Services Current
Arch Coal, Inc. Vice President, Environmental & Technical Affairs, Eastern Operations Former
Summit Engineering, Inc. Partner Former
West Virginia University B.S. In Civil Engineering Former

Mr. Nicholson has been our Senior Vice President and General Counsel since April 2005 and our Secretary since February 2006. Prior to joining us, Mr. Nicholson was a member at the law firm of Jackson Kelly, PLLC from April 2002 to April 2005. His practice focused on energy and natural resources, mergers and acquisitions and commercial and mineral real estate. Before joining Jackson Kelly, PLLC, Mr. Nicholson served as Vice President, Secretary and General Counsel of Massey Energy Company, a Central Appalachian coal producer, from February 2000 to April 2002. From June 1995 to February 2000, Mr. Nicholson was assistant general counsel of Massey Energy Company. He earned a B.S. in economics from Georgetown College and a J.D. from University of Kentucky.

Organization Position Status
International Coal Group, Inc. Senior Vice President Current
Massey Energy Company Vice President Former
International Coal Group, Inc. General Counsel Former
Massey Energy Company General Counsel Former
Massey Energy Company Secretary Former
University of Kentucky J.D. Former
Georgetown College B.S. In Economics Former
Jackson Kelly Pllc Member Former

Mr. Kitts joined International Coal Group in April 2005. Prior to his employment with us, Mr. Kitts was the Vice President of Alpha Natural Resources Services from April 2004 to April 2005 and the President of Brooks Run Mining Co., LCC, a Central Appalachian coal producer, from February 2003 to April 2005. From March 2002 to February 2003, Mr. Kitts was the President of Brooks Run Coal Company. Prior to that time, Mr. Kitts held various management positions at Massey Energy Company from December 1986 to March 2002. Mr. Kitts received both a B.S. in geology and an M.B.A. from Marshall University.

Organization Position Status
International Coal Group, Inc. Senior Vice President Â?? West Virginia & Maryland Operations Current
Marshall University M.B.A. Former
Marshall University B.S. In Geology Former

Mr. Perkins joined International Coal Group in January 2005. Prior to his employment with us, Mr. Perkins held various positions in operations management with our predecessors, Horizon Natural Resources and AEI Resources. During the period from July 1993 to May 1999, Mr. Perkins held various senior management positions at Amvest, Inc., an independently owned coal mining and natural gas company based in Charlottesville, Virginia. Mr. Perkins received his B.S. in geology from Kent State University.

Organization Position Status
International Coal Group, Inc. Senior Vice President Â?? Kentucky & Illinois Operations Current
Icg, Inc. Senior Vice President Â?? Kentucky & Illinois Operations Current
Horizon Vice President, Evergreen Mining Company Division Former
Horizon General Manager, Kentucky Division, Union Free Horizon Natural Resources Former
Kent State University B.S. In Geology Former

Mr. Snavely joined International Coal Group in July 2005. Prior to his employment with us, Mr. Snavely was most recently President of Bell County Coal Corporation at James River Coal Company, a Central Appalachia coal producer, from February 1995. During 1978 to 1995, prior to joining the James River Coal Group, Mr. Snavely had an extensive career in operations management at various subsidiaries of A.T. Massey Coal Company. Mr. Snavely has a B.S. in mining engineering from Virginia Tech University.

Organization Position Status
International Coal Group, Inc. Vice President Â?? Planning and Acquisitions Current
Virginia Polytechnic Institute and State University Bachelors Degree In Mining Engineering Former

Gamm comes to ICG with more than 10 years of investor relations experience. Most recently, he operated his own investor relations consulting firm, Gamm & Associates. He also has held investor relations positions with NACCO Industries, a holding company that owns North American Coal Corporation, and Figgie International. Gamm has extensive corporate communications and public relations experience with Figgie International, United Airlines and Walgreen Co. Gamm received his bachelor’s degree in journalism from the University of Illinois, Champaign- Urbana, and his juris doctor degree from Northern Illinois University College of Law, Dekalb.

Organization Position Status
International Coal Group, Inc. Vice President, Investor & Public Relations Current

Organization Position Status
International Coal Group, Inc. Vice President, Accounting and Treasury Current
International Coal Group, Inc. Treasurer Current
Horizon Vice President Former
Icg, Inc. Vice President Former
Horizon Controller Former
Icg, Inc. Treasurer Former

Organization Position Status
W.L. Ross & Co., LLC Chairman & Chief Executive Officer Current
Rossco, Inc. Chief Executive Officer Current
International Textile Group Inc Chairman Current
International Steel Group Inc. Chairman Current
International Coal Group, Inc. Chairman Current
Ohizumi Manufacturing Company Chairman Current
Marquis Who's Who, LLC Chairman Current
Rossco, Inc. Chairman Current
Yale School of Management Board of Advisors Current
Syms Corporation Board of Directors Current
Turnaround Management Association Board of Directors Current
News Communications, Inc. Board of Directors Current
Whitney Museum of American Art Board Member Current
Oxford Automotive Board of Directors Current
Japan Society 100 Years Board of Directors Current
Wagon Automotive Board of Directors Current
ArcelorMittal Board of Directors Current
Assured Guaranty, Ltd. Board of Directors Current
Rothschild Inc. Executive Managing Director Former
W.L. Ross & Co., LLC Managing Partner Former
Wagon plc Board of Directors Former
International Coal Group, Inc. Board of Directors Former
International Steel Group Inc. Board of Directors Former
Mittal Steel Company N.V. Board of Directors Former
Harvard University M.B.A. Former
Harvard Business School MBA Former
Yale University A.B. Former
Yale College B.A. Former

Ms. Bezik has been a Director since April 2005 and a Director of ICG, Inc. since December 2004. Ms. Bezik has over thirty years of financial management experience. Since May 2004, Ms. Bezik has been a financial consultant to the $300 million Senior Secured Noteholders in the WCI Steel, Inc. bankruptcy proceedings. Effective May 1, 2006, she became the Chief Financial Officer of WCI Steel, Inc. She was Senior Vice President-Finance and Chief Financial Officer at Cleveland-Cliffs Inc., from November 1997 through July 2003. Prior to that, she was the Treasurer at Cleveland-Cliffs from October 1994 through October 2003. Cleveland-Cliffs Inc., a NYSE-listed company, is a major supplier to the steel industry. Earlier in her career, she was on the audit staff of Ernst & Young, LLP, a professional services organization, and worked for AM International, a large manufacturing company. In September 2005, Ms. Bezik joined the Board of Managers of Cadence Innovation LLC (f/k/a New Venture Holdings, LLC), a privately held, tier-one automotive supplier, and in October 2005, was appointed Chair of its Audit Committee. From February through September 2004, Ms. Bezik was a Director and Chair of the Audit Committee of Oxford Automotive, Inc., a privately held, tier-one automotive supplier, prior to its filing for reorganization in 2004. In addition, she is on the Board of Trustees and the Executive Committee and serves as Treasurer of the Achievement Centers for Children, a non-profit organization serving special needs children in Northeastern Ohio. Ms. Bezik is a CMA (Certified Management Accountant) and holds an M.B.A. from Case Western Reserve University.

Organization Position Status
International Coal Group, Inc. Board of Directors Current

Organization Position Status
International Coal Group, Inc. Board of Directors Current

Mr. Gaines was elected to our Board of Directors on May 26, 2006. Since August 2000, Mr. Gaines, has served as a director and member of the audit committee of ModTech Holdings, Inc., a national designer and manufacturer of modular buildings. Mr. Gaines served as the Chairman and CEO of GNB Inc., an automotive and industrial battery company, from 1982 to 1988. Prior to GNB, Inc., Mr. Gaines was Senior Vice President, International from 1981 through 1983 and Group Vice President, Batteries from 1971 through 1981 for Gould Inc., an international and diversified manufacturer. In addition, Mr. Gaines serves as a director of the Battery Council International and as a director and an executive committee member of Students in Free Enterprise. Mr. Gaines attended the University of Virginia and the Harvard Business School Advanced Management Program.

Organization Position Status
International Coal Group, Inc. Director Current
Battery Council International Director Current
Modtech Holdings, Inc. Director Current
GNB Corporation Chairman Former
Harvard Business School Advanced Management Program Former
University of Virginia * Former

Organization Position Status
W.L. Ross & Co., LLC Senior Vice President Current
International Coal Group, Inc. Director Current
Rothschild Inc. NA Former
W.L. Ross & Co., LLC Officer Former
Icg, Inc. Secretary Former
Anker Coal Group Inc. Director Former
University of Colorado B.S. In Accounting and Finance Former

Organization Position Status
Laurel Hill Capital Partners LLC Managing Partner Current
International Coal Group, Inc. Director Current
Icg, Inc. Director Current
TNP Enterprises, Inc. CEO Former
Long Island Lighting Company Chief Executive Officer Former
Laurel Hill Capital Partners LLC Owner Former
Brookhaven National Laboratory Assistant Director Former
TNP Enterprises, Inc. Chairman Former
Long Island Lighting Company Chairman Former
New York University Ph.D. In Economics Former
New York University M.B.A. Former
New York University B.S. Degree Former

Executive News

  • Wilbur Ross Targets China's Clean Energy Opportunities

    Morningstar.com - 9/02/09 - View Story

  • US eases rules for bank buyouts

    South China Morning Post - 8/27/09 - View Story

  • Ross interested in Sun Belt banks

    Reuters - 8/27/09 - View Story

  • Rules eased for private investing in failed banks

    Seattle Times - 8/27/09 - View Story

  • Wilbur Ross and Banks: 'We'll Be in the Game'

    New York Times - 8/27/09 - View Story

  • INTERVIEW-Ross says FDIC bank rules still too tight

    Forbes.com - 8/27/09 - View Story

  • Ross says FDIC bank rules still too tight

    Reuters - 8/27/09 - View Story

  • FDIC eases rules for private equity firms to buy failed banks

    Los Angeles Times - 8/27/09 - View Story

  • As banks fail, FDIC likely to ease rules for investors to buy institutions

    Canoe Money - 8/25/09 - View Story

  • As more banks fail, private investors gain favor

    Washington Post - 8/25/09 - View Story

  • MBA Takes Loss, Plans to Break Even in FY 2010

    National Mortgage News - 8/21/09 - View Story

  • WL Ross Hires Fannie Regulator

    The Wall Street Journal Interactive Edition - 8/20/09 - View Story

  • Fannie, Freddie Overseer Lockhart To Join WL Ross

    Morningstar.com - 8/19/09 - View Story

  • FDIC proposals on banks buys draw fire as comments end

    Forbes.com - 8/10/09 - View Story

  • FDIC proposals on banks buys draw fire as comments end

    Reuters - 8/10/09 - View Story

  • The Economist Launches The Buttonwood Gathering Lawrence H. Summers to deliver keynote lecture at inaugural finance and economics event

    Review Seeker - 8/10/09 - View Story

  • Greenbrier Reports Fiscal Third Quarter 2009 Results

    Reuters - 7/07/09 - View Story

  • Greenbrier Reports Fiscal Third Quarter 2009 Results

    Street Insider - 7/07/09 - View Story

  • Greenbrier Reports Fiscal Third Quarter 2009 Results

    PR Newswire - 7/07/09 - View Story

  • Greenbrier Reports Fiscal Third Quarter 2009 Results

    PR Newswire via Yahoo! - 7/07/09 - View Story

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     ICO $4.59 +0.09 (2.00% )
Average Volume 1,937,870
Shares Outstanding 154.15M
Market Cap 707.6M
Year High 5.35
Year Low 1.09
Earnings Per Share -0.03
P/E Ratio -153.00
Dividend N/A
Yield N/A
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