GuangYeh has historical coal sales of about 68,000 tons a year; post sale the business is expected to grow 250% to 180,000 tons in the first year.
L&L chairman & CEO Dickson Lee said the acquisition will expand the company’s sales and distribution business.
"As a part of strategy to expand our sales and distribution business, we intend to acquire other coal sales companies, bringing in additional sales and profits to our operations," said Lee.
GuangYeh Coal Sales’ operations have been added to L & L Energy’s subsidiary Tai Fung in Kunming while its coal wholesale license will be sold.
