After already having parted with its oil and gas assets in 2004, its rail service in 2005, and this years sale of its telecommunications units, a sale of $23 million worth of KY coal empire marks the last liquidation of Progress’ “non-core” assets.
Progress, which provides power to 3 million people in the Carolinas and Florida also intends to sell the Powell Mountain Coal Co. in western Virginia, which marks the last of its coal assets.