Amadeusz Juskowiak

Nacco industries nc unit to be sold

Nacco Industries Inc said a group of utilities called the Capco group has taken actions to exercise its option to acquire the Quarto Mining Co unit of Naccos North American Coal Co

The purchase would be for about 10 mln dlrs and would if completed generate a substantial capital gain for Nacco the company said The price is equal to the value of coal reserves contributed to Quarto by North American Coal

In 1986 Quarto produced about 36 mln tons of coal and net earnings of 59 mln dlrs Nacco said

Capco is a group of utilities that includes Ohio Edison Co OEC and Centerior Energy Corp CX