09 Oct 2018

Westmoreland Coal Company, one of the oldest mining companies in the country, files Chapter 11 bankruptcy in a Texas court. In the next four years, a slew of major coal-fired power plants in the Ohio Valley - a major area where the company serves - are expected to shut down, including its largest customer American Electric Power (14% revenue). The company will continue normal operations through the bankruptcy case by using cash collateral and does not expect to lay off workers at this time.
Last Modified: 20-Oct-2018 6:03 PM
Posted by Coal Numerical in Business & Industry
Source Multiple | Photo credits: Andrew Graham/WyoFile