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Wyoming Coal Producer-Possible Sale

Wyoming Coal Producer-Possible Sale

Coal producer considers sale option in company review


The Associated Press - November 14, 2018

CASPER, Wyo. (AP) - The third largest coal producer in Wyoming says it has launched a "strategic alternatives" review that includes considering options like selling the company.

The Casper Star-Tribune reports Cloud Peak Energy employs about 850 miners at the Cordero Rojo and Antelope mines in Campbell County in northeast Wyoming.

CEO Colin Marshal says in a statement that it's continuing to adapt to industry changes and "to position our company for future growth opportunities."

According to financial reports filed Tuesday, Cloud Peak is also considering offering its executives bonuses equal to 100 percent of executives base pay as part of plan to retain its leadership team.

The company closed its office in Gillette earlier to cut costs and is looking for smaller space in Denver.

It reported a $30-million loss for the second quarter of this year.



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