Partnership Agreement Between Drummond Company and Itochu Corporation Finalized
Drummond Company, Inc. and affiliates (“Drummond”) announced today that the partnership agreement with a subsidiary of ITOCHU Corporation (“Itochu”) has been finalized. This follows the previously announced agreement to enter into a partnership on June 15, 2011.
Drummond now owns 80% and Itochu now owns 20% of Drummond International, LLC, which owns and operates the Colombian coal mining operations and transportation infrastructure previously owned 100% by Drummond.