NACCO INDUSTRIES <NC> UNIT TO BE SOLD
Nacco Industries Inc said a group of
utilities, called the Capco group, has taken actions to
exercise its option to acquire the Quarto Mining Co unit of
Nacco's North American Coal Co.
    The purchase would be for about 10 mln dlrs, and would, if
completed, generate a substantial capital gain for Nacco, the
company said. The price is equal to the value of coal reserves
contributed to Quarto by North American Coal.
    In 1986, Quarto produced about 3.6 mln tons of coal and net
earnings of 5.9 mln dlrs, Nacco said.
    Capco is a group of utilities that includes Ohio Edison Co
<OEC> and Centerior Energy Corp <CX>.
 Reuter
