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OTC Pink: WLTGQ
|Founded||Tampa, Florida in 1946|
Birmingham, Alabama, United States
|Walt Scheller, Chief Executive Officer|
|Revenue||$2.7 billion USD (2011)|
Number of employees
|4,400 (2011, including contractors)|
Walter Energy, Inc. was a publicly traded "pure play" metallurgical coal producer for the global steel industry. The company also produced natural gas, steam coal and industrial coal, anthracite, metallurgical coke, and coal bed methane gas. Corporate and U.S. headquarters were located in Birmingham, Alabama, and its Canadian & UK headquarters in Vancouver, British Columbia. Walter Energy filed for bankruptcy in 2015 and its assets were purchased by Warrior Met Coal.
The company's U.S. underground mines produced high-quality coal from Alabama's Blue Creek seam. Jim Walter Resources, the Company's U.S. underground coal mining unit, has grown from a small producer of less than 1 million tons of coal per year, produced solely for use in its sister company's coke ovens, into one of the 25 largest coal metallurgical coal producers in the United States, with 2010 metallurgical coal sales of approximately 6.0 million metric tons and plans to expand sales to 8.5 million metric tons of metallurgical coal by 2013. Its metallurgical coal mines, No. 4 and No. 7, are two of the deepest vertical shaft coal mines in North America at nearly 2,000 feet deep. The mines also produce a significant quantity of coal bed methane gas. Jim Walter Resources also operates the North River steam coal mine.
Walter Minerals, an Alabama-based surface coal producer with a capacity of nearly 1.5 million tons, which produces coal for the Alabama steam and industrial coal markets, also is included in the Company's U.S. operations.
Canada and U.K.
Walter Energy's Canadian and European operations consist of three mines in British Columbia, Canada and a project in Wales at Aberpergwm, UK.
The company was formerly known as Walter Industries, Inc. and changed its name to Walter Energy in April 2009. The predecessor company was founded by Tampa entrepreneur the late James W. Walter, Sr. in 1946 as a builder of affordable, stick-built homes across the southeast. It spun off Mueller Water Products in 2006, closed Jim Walter Homes in 2009, also spinning off Walter Investment Management Corporation in 2009.
2001 mine disaster
At approximately 5:15 p.m. on September 23, 2001, at the Jim Walter Resources No. 5 coal mine in Brookwood, 40 miles southwest of Birmingham, a cave-in caused a release of methane gas that sparked two major explosions, killing thirteen miners.
- "Coal miner Walter Energy files for bankruptcy". Reuters. 2015-07-15. Retrieved 2017-12-28.
- Poe, Kelly. "Warrior Met Coal, the former Walter Energy, sets IPO range". AL.com. Retrieved 2017-12-28.
- "Funding Universe (undated): WALTER INDUSTRIES, INC . Company History". Retrieved 2009-08-11.
- "Death Underground". Archived from the original on 2014-10-11.