PT Indo Tambang Tbk Megah. (ITMG) prepare a plan of acquisition of domestic coal mining companies

PT Indo Tambang Tbk Megah. (ITMG) prepare a plan of acquisition of domestic coal mining companies. Acquisition funds came from corporate cash with free cash positions, currently reached USD 400 million. The acquisition is targeted to contribute to the production of 3 - 5 million tons per year. In the year 2009, ITMG production capacity reached 21 million tons and in 2001 is predicted to reach 23 million tons. Coal prices this year are expected to decline, can affect ITMG income in the year 2010.

Source : Investor Daily