ENGLEWOOD, Colo. – Westmoreland Coal Company has emerged from Chapter 11 bankruptcy and will operate as a new, privately held company.
The Colorado-based company announced Friday that its assets, including three Montana mines, are now owned and operated by a group of its former creditors, who are calling themselves Westmoreland Mining LLC.
The new chief executive officer is Martin Purvis, a veteran of the Australian mining industry. The chairman is David Stetson, the former CEO of Alpha Natural Resources.
Westmoreland officials said in a news release its reorganization plan will give the company enhanced financial flexibility to move forward from its $1.4 billion bankruptcy.
Westmoreland owns the Rosebud mine, which feeds the Colstrip power plant, the Absaloka mine in south-central Montana and the Savage mine near Sidney.