HMS Bergbau to focus on coal growth market in Asia

Berlin-based firm HMS Bergbau AG, an international coal supplier with operating know-how of coal mining, transport and trade, consistently pursued its vertical integration strategy in the first half of 2011 and further pursued the expansion of its international business activities in Asia, the key growth market for coal.

?In the future, HMS Bergbau AG will increasingly focus on the coal growth market Asia. Our initial objective will be to continuously increase the activities of our subsidiaries and representations in Singapore, Indonesia, Pakistan and India. Particularly in view of developments in Asia and the position we have achieved on the procurement and sales side, we anticipate business to develop positively as a whole in the coming financial years,? Heinz Schernikau, CEO of HMS Bergbau AG said in statement on Friday.

By steadily expanding our presence in the market, the company intends to participate even more extensively in the rising volume of Asian coal exports, he said.

Group sales revenues went down by EUR 14,430 thousand or 21.9%, from 65,911 thousand in the previous year to EUR 51,481 thousand in the first half of 2011. Reasons for this drop were the sale of the Polish investment, reduced volumes in the European market and a slight fall in Asian trading volumes, which was primarily due to unexpected changes in the legal situation in Indonesia with deliveries being re-scheduled for the second half of the year as a consequence, the company said. (denny)