Patriot Coal Corp. has moved its corporate headquarters from Creve Coeur to Scott Depot, W.Va., the company announced today in a news release.
The company began transitioning to the new office in November and is expected to complete the process in the first quarter of 2015, Patriot president and CEO Bennett Hatfield said in the release.
The move is expected to have limited job impact on St. Louis, as Patriot only employed about 40 people at its Creve Coeur headquarters, a company spokeswoman told the St. Louis Post-Dispatch.
The shift situates the company’s headquarters closer to its mining operations. Following the December closure of two mines in Kentucky, all eight of Patriot’s remaining mines are located in West Virginia.
“The move from St. Louis will accomplish dual objectives of reducing administrative costs and positioning the corporate headquarters in closer proximity to our mining operations and customers,” Hatfield said.
The company, spun off from St. Louis-based Peabody Energy in 2007, filed for bankruptcy in 2012. It restructured and exited bankruptcy in December 2013. But Patriot, like the coal industry as a whole, has continued to struggle due to factors including inexpensive natural gas and looming Environmental Protection Agency regulations on carbon emissions.