From: By Associated Press
ST. LOUIS -- Coal company Peabody Energy Corp. said Thursday that it opened an Indonesian office to take advantage of coal sourcing opportunities and expand its presence in the marketplace.
"The Pacific markets are driving global demand for coal and are expected to achieve 5 to 10 percent compound annual growth over the next five or more years," Chairman and CEO Gregory Boyce said in a statement.
By having an office in Jakarta the company can better serve India, China and other Asian markets, Boyce explained.
The Jakarta office will be run by Reynard Hanoppo, a former sales manager for coal producer PT Kideco Jaya Agung. Hanoppo will report to Phillip Smith, managing director of Asian trading.