Correction: Wyoming Coal Producer story
CASPER, Wyo. (AP) — In a story Nov. 13 about Cloud Peak Energy, The Associated Press reported erroneously that Cloud Peak Energy was considering doubling its executives’ pay between now and 2020 as part of plan to retain its leadership team and that the company had closed its offices in Montana. The company is considering bonuses for its executives equal to 100 percent of their base pay and has not closed the Montana office.
A corrected version of the story is below:
Coal producer considers sale option in company review
The third largest coal producer in Wyoming says it has launched a “strategic alternatives” review that includes considering options like selling the company
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.