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 : March 22, 1995
(Date of earliest event reported)
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 March 22, 1995 the Company announced that its 1994
earnings will be reduced by $2,928,000 because the
partnership which owns the Roanoke Valley I power plant has
created a reserve for a portion of its 1994 earnings.
A press release describing the transaction is attached as
an exhibit and incorporated herein by reference.
Item 7. Exhibits.
Press release dated March 22, 1995.
EXHIBIT INDEX
Sequentially
Exhibit Description of Exhibit Numbered
Number Page
1 Press release dated March 22, 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: March 23, 1995 By:_______________________
Francis J. Boyle
Senior Vice President,
Chief Financial
Officer and Treasurer
- --------------------------------------------------
Westmoreland Will Reduce
1994 Earnings From
Westmoreland Energy
Due to Adverse Court Decision
- -----------------------------------------------------------
Philadelphia, PA -- March 22, 1995 -- Westmoreland Coal Company
(NYSE:WCX) announced today that its 1994 earnings will be reduced
because the partnership which owns the Roanoke Valley I power plant, fifty
percent of which is owned by Westmoreland Energy, Inc. with its
subsidiaries, has created a reserve for a portion of its 1994 earnings. This
is due to the recent decision of the Circuit Court of the City of Richmond,
Virginia dismissing a complaint filed in 1994 by Westmoreland - LG&E
Partners against Virginia Electric and Power Company to resolve a contract
dispute. The Roanoke Valley I power plant sells power to a division of
Virginia Electric and Power Company under the disputed contract.
The reserve will reduce 1994 earnings from Westmoreland Energy by
$2,928,000. Of this amount $2,521,000 is attributable to earnings reported in
the second and third quarters of 1994.
Westmoreland continues to believe its interpretation of the contract is correct
and is considering further action in light of this ruling to protect its
interests.
###
Contact: R. Page Henley
(215) 545-2500
f: legal/news/nrqtr.doc
