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& L Energy acquires a coal sales company, GuangYeh Coal Sales

L & L Energy has acquired the existing operations of GuangYeh Coal Sales Co. GuangYeh, an owner-operated sales company, has historical annual coal sales of 68,000 tons to various steel factories in Yunnan Province. Sales have been on a cash-at-delivery basis. Lacking the resources to expand, and recognizing L&L's unique platform and infrastructure, GuangYeh rolled its entire business, sales orders, customer base, and staff into L&L's Tai Fung subsidiary in Kunming in August 2012. The owner of GuangYeh joins the L&L's sales team, and GuangYeh's coal wholesale license will be sold. With L&L's brand name and infrastructure, the acquired operation is expected to grow 250% to 180,000 tons in the first year. Under the terms of the agreement, GuangYeh's former owner and staff can receive a performance bonus when sales and profit reach a predetermined target.