
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, April 1, 1990                   TAG: 9004010182
SECTION: VIRGINIA                    PAGE: B7   EDITION: METRO 
SOURCE: Associated Press
DATELINE: CHARLESTON, W. VA.                                 LENGTH: Short

PITTSTON PREDICTS PROFITS

Pittston Coal Group's chief predicts his operations will be turning a profit again this year despite a bitter United Mine Workers strike that helped cause a $13 million loss for the parent company.

Pittston Coal Group President Michael Odom said the company will rebound quickly from the 11-month strike in West Virginia, Virginia and Kentucky.

"I think the outlook is pretty good for Pittston Coal Group companies right now," Odom said. "We're trying to be active. We're trying to be a good corporate citizen."

The parent company, the Pittston Co., lost more than $30 million during the strike, which began in April 1989. Pittston expects to show losses of about $13 million in the quarter that ended Saturday, resulting from the strike and a downturn in its air freight business.

But Odom said the coal operations will help turn that around this year.

"The coal group will return to profitability in the second quarter, certainly by the third quarter," Odom said.

by CNB