Pantera drummer and guitarist form Damageplan

Pantera drummer Vinnie Paul and guitarist Dimebag Darrell have formed Damageplan. The group's debut, "New Found Power," is due out on Feb. 10 via Elektra. A spokesperson says Pantera has not broken up but is on hold; the new group will be touring around the time of the album's release.

The Damageplan line-up is completed by former Diesel Machine guitarist Patrick Lachman on vocals and bassist Bobzilla. "New Found Power" was produced by Dimebag and Paul along with frequent collaborator Sterling Winfield. Guests include Ozzy Osbourne guitarist Zakk Wylde and Slipknot's Corey Taylor.

"The music was written from our heart and soul for ourselves but most of all for our fans who have been so loyal to us over the years," Paul says in a statement. "Pantera was everything to us and we put everything we had into it 1000% but it is time for us to move on. We're proud to carry the torch and continue our arse kickin', hell raisin' tradition that you know and love no one will be let down."

Pantera has not released a studio album since 2000's "Reinventing the Steel.”