SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 5, 1995
Westmoreland Coal Company
(Exact name of registrant as specified in its charter)
Delaware 0-752 23-1128670
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
700 The Bellevue, 200 South Broad Street
Philadelphia, Pennsylvania 19102
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 545-2500
Item 5. Other Events.
On May 5, 1995, Westmoreland Coal Company announced that it will
move its corporate office from Philadelphia, Pennsylvania to
Colorado Springs, Colorado. The relocation is expected to be
completed by September 1995.
Item 7. Exhibits.
Press release dated May 5, 1995.
EXHIBIT INDEX
Sequentially
Exhibit Description of Exhibit Numbered
Number Page
1 Press release dated May 5, 1995 4
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
WESTMORELAND COAL COMPANY
Date: May 9, 1995 By:
Francis J. Boyle
Senior Vice President, Chief
Financial Officer & Treasurer
- -----------------------------------------------
Westmoreland Coal Company
Will Move Corporate Office
To Colorado Springs, Colorado
- ---------------------------------------------------------
Colorado Springs, Colorado -- May 5, 1995 -- Westmoreland Coal
Company (NYSE:WCX) announced today that it will move its corporate
office from Philadelphia, Pennsylvania to Colorado Springs,
Colorado. This relocation is expected to be completed by September,
1995.
Christopher K. Seglem, Westmoreland's President and Chief Executive
Officer said, "We have given substantial thought about where best to
locate Westmoreland's corporate offices. Colorado Springs has been
chosen because of its central location in both the mining and energy
industries, its dynamic business environment and cost effectiveness.
It enables us to be closer to our currently most promising coal
asset subsidiary, Westmoreland Resources, Inc. which has mined coal
in Montana's Powder River Basin since 1974, and even more
importantly to that part of the country we believe offers
Westmoreland the greatest opportunity for growth in both the coal
and electric power industries. This move is an essential part of
our new team's workout plan, announced over two years ago, which
includes streamlining Westmoreland and creating a culture focused on
growth. While Westmoreland's substantial embedded heritage costs
will continue to require significant attention for some time to come
and provide our largest hurdle, this office's principal focus will
be on opportunities in the emerging energy market. We think
Colorado Springs presents itself as an extremely receptive host in
this regard, and a most cost effective one as well. We look forward
very much to becoming a part of the community and its success. I
especially want to thank the Colorado Springs Economic Development
Corporation for their help in reaching the decision to select
Colorado Springs."
Rocky Scott, President of The Greater Colorado Springs Economic
Development Corporation, commented, "The Westmoreland Coal Company
headquarters represents the ideal new corporate neighbor in Colorado
Springs. This community will see a strong economic and leadership
contribution to its continually diversifying economic fabric. We
are delighted with their decision."
Today Westmoreland is an integrated energy company primarily engaged
in the mining and sale of coal and in the development and ownership
of independent power plants. Its coal mining segment began
operations in 1854 and has been continuously engaged in mining and
selling coal since that year. Westmoreland is the oldest
independent coal company in the United States and it and Colorado
Springs share a unique link to the past through General William J.
Palmer who, in 1857 became the Secretary of Westmoreland Coal
Company and served in that capacity before the Civil War. General
Palmer, of course, went on to found the City of Colorado Springs
after the War. At present the Company mines coal in Montana through
its subsidiary, Westmoreland Resources, Inc. located on the Crow
Indian Reservation near Hardin and in southwestern Virginia and
eastern Kentucky at its Virginia Division headquartered in Big Stone
Gap, Virginia. Coal from these properties is sold to various
utilities and independent power plants in the United States.
Westmoreland's other main business segment, begun in 1986, is the
development and ownership of independent power projects through its
subsidiary, Westmoreland Energy, Inc. (WEI), located in
Charlottesville, Virginia. WEI has interests in five coal fired
plants in operation in New York, Virginia and North Carolina and two
natural gas fired plants operating in New York and Ft. Lupton,
Colorado. A sixth coal fired plant in North Carolina is in the
final stages of construction and will begin commercial operation in
mid 1995.
Westmoreland will relocate a small leadership group from
Philadelphia and other locations to Colorado Springs. Certain other
employees will be hired locally. Information on future hiring plans
and the procedure to make an application for employment can be
obtained from Thomas M. Spangler, Assistant Vice President, Human
Resources, at (215) 545-2500.
Westmoreland has retained PHH Homequity, PHH U.S. Mortgage and
Fidelity Real Estate to provide relocation services to employees who
will be transferring to Colorado Springs. Employees are free to use
other financial and real estate services of their own choosing if
they wish. Companies wishing to make their services known to
Westmoreland employees should do so through Thomas Spangler. The
firm of Higginbotham/Briggs & Associates will provide architectural,
design and construction management services for Westmoreland in
connection with its new office space in the landmark Holly Sugar
Building.
###
Contact: R. Page Henley, Jr.
(215) 545-2500
