29.11.2007 13:47:00
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National Coal Corp. Names Michael Castle Chief Financial Officer
National Coal Corp. (Nasdaq:NCOC), a producer of high-quality steam coal
in Central and Southern Appalachia, announces that Michael R. Castle has
been appointed Senior Vice President and Chief Financial Officer (CFO)
effective December 1, 2007.
Current CFO and board member, Mike Love, is leaving National Coal to
pursue other opportunities. "We wish Mike well
in his future pursuits and thank him for all the wonderful work he did
while serving with us,” said Daniel Roling,
President and CEO of National Coal. With Mike Love’s
departure, his seat on the Board of Directors will remain unfilled for
the time being.
Since 1999, Castle has been in professional practice specializing in
management advisory and consulting services. In his practice he offered
various financial and operational skill sets designed to help companies
grow, acquire, or sell coal mining and natural gas properties throughout
the Kentucky, West Virginia, Ohio, Tennessee and Virginia region. He
also provided income tax planning and compliance services for coal
mining and coal industry related businesses.
Roling said Castle’s background was attractive
during the search process and sees areas where his industry insight will
undoubtedly offer the Company significant benefit. "Michael
is very knowledgeable about the coal industry, having been associated
with it for a number of years. His past achievements speak volumes about
his ability to add value and we look forward to his addition to our team.”
Prior to his service in his own professional practice, Castle was CFO at
Quaker Coal Company, a 12 million ton per-year, Kentucky-based coal
mining company with operations in four states, where he assisted with
numerous debt financing arrangements that fostered and enhanced
acquisitions and growth. He also served as CFO at Spendthrift Farm, one
of the largest thoroughbred stallion complexes in the United States.
Prior thereto he also held positions of increasing authority at Coopers
& Lybrand and various regional accounting firms in Kentucky. His
position at National Coal will be based in Knoxville, Tenn., and he will
report directly to Roling.
Castle holds a CPA in public practice and holds a bachelor’s
degree from the University of Kentucky.
About National Coal Corp.
Headquartered in Knoxville, Tenn., National Coal Corp., through its
wholly-owned subsidiary, National Coal Corporation, is engaged in coal
mining in East Tennessee and Southeastern Kentucky, and through its
wholly-owned subsidiary, National Coal of Alabama, is engaged in coal
mining in Alabama. Currently, National Coal employs about 350 people.
National Coal sells steam coal to electric utilities and industrial
companies in the Southeastern United States. For more information visit www.nationalcoal.com.
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