SCOTT DEPOT – International Coal Group, Inc. (NYSE: ICO) announced Tuesday that its ICG ADDCAR Systems, LLC subsidiary has acquired certain international patent rights that substantially expand its ability to manufacture and market its ADDCAR highwall mining system beyond North America. Key coal-producing countries added to the ICG ADDCAR marketing area include China, Russia and South Africa.
The international patent rights were purchased from Addington International, LLC for an undisclosed sum.
With this acquisition, ICG ADDCAR is now entitled to manufacture and market its highwall mining system throughout North America, South America, Africa, Europe, and most of Asia.
“We are delighted to conclude this strategic acquisition for our ICG ADDCAR business unit,” said ICG CEO Ben Hatfield. “The purchase of these international patent rights opens a number of new markets to ICG ADDCAR for the sale of its unique highwall mining technology.”
ICG ADDCAR manufactures three models of highwall mining systems, including its standard unit, a narrow-bench unit, and a newly developed steep-dip mining unit planned for deployment in British Columbia later this year. Each system is capable of horizontally penetrating a coal seam up to depths of 1,600 feet and mining seam heights from three feet up to 30 feet. The systems allow productive mining from the surface without large-scale surface disturbance.
“We believe the acquisition of these international patent rights will help the company grow its business beyond its historic base in the U.S. and Canada,” said Johnny Sturgill, ICG ADDCAR’s President and General Manager.
With headquarters in Scott Depot, International Coal Group is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. The Company has 13 active mining complexes, of which 12 are located in Northern and Central Appalachia, and one in Central Illinois.
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