Walter Industries Inc, a producer and exporter of metallurgical coal and producer of steam coal, coal bed methane gas, furnace and foundry coke and other related products revealed on April 17th 2009 that its Financing business has been completely separated and will be merged to create Walter Investment Management Corporation, an independent, publicly traded Real Estate Investment Trust.

Walter Industries said that in connection with this separation, a new corporate identity will be announced showing its core natural resources and energy businesses, provided the shareholders approve of the proposition at the company's annual shareholder meeting on April 23 Aat the Tampa Airport Marriott Hotel.