Alliance Resource Partners announces new Master Supply and Services Agreement with Saminco Solutions LLC
Alliance Resource Partners LP (ARLP) announced that its wholly owned subsidiary, CR Services, LLC, has entered into a Master Supply and Services Agreement with Saminco Solutions LLC. Under the terms of the agreement, CR Services has the right, but not the obligation, to purchase various equipment, parts, and services from Saminco Solutions LLC. The agreement has an initial term of five years and will automatically renew for successive one-year periods unless terminated by either party with appropriate notice. The transaction was approved by ARLP's Conflicts Committee consisting solely of independent directors. The agreement also includes customary terms regarding warranty, liability, and termination. Saminco Solutions LLC is affiliated with Joseph W. Craft III, the Chief Executive Officer, President, and Chairman of the Board of ARLP's managing general partner.
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