Foundation Coal looking for Central Appalachian acquisition

NEW ORLEANS, April 7 (Reuters) - Foundation Coal Holdings Inc (FCL.N: Quote, Profile, Research) is looking for acquisitions this year, preferably in the Central Appalachian region, Chief Executive Officer James Roberts said on Monday.

"We want to acquire other companies and reserves also," Roberts told Reuters at the sidelines of the Howard Weil Energy Conference in New Orleans.

"We would like very much to acquire another active operation, wherever we see real value. But we have been looking mostly in Central Appalachia."

In his latest financial forecast, Roberts said in a presentation to analysts at the conference that Foundation Coal is set to grow 2008 revenues to a range of $1.595 billion to $1.65 billion this year.

The latest forecast was a little different from one given in mid-February, when Foundation Coal said it expects 2008 earnings between $1.05 and $1.55 a share on total revenue of $1.60 billion to $1.65 billion.

Foundation Coal sees 2008 adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization, at $335 million to $385 million this year, up from $307.5 million in 2007, Roberts said in his latest presentation.

The company, which is based in Linthicum Heights, Maryland, plans to expand coal production in the high-growth North Appalachian region in 2008, the chief executive added.