EVANSVILLE, Ind. - One of Indiana's largest natural-gas utilities is selling its coal-mining subsidiary to a southern Indiana-based coal-mining company, putting more than 800 coal miners' jobs at risk.
Evansville-based Vectren Corp. officials announced Tuesday that they're selling Vectren Fuels to Sunrise Coal LLC for $296 million, with capital adjustments not to exceed $325 million. The sale is expected to be finalized later this year with Sunrise Coal, a subsidiary of Hollador Energy Company.
The Evansville Courier & Press reports that Vectren Fuels owns three coal mines in southwestern Indiana that employ nearly 850 coal miners.
Those coal-mining jobs are not guaranteed after the sale is finalized, but Vectren notes that Sunrise Coal will start the hiring process soon and that all miners currently employed will be considered for hire.
Hoosier Hoop Hysteria scores: Jan 30
Check out the scores and highlights from Hoosier Hoop Hysteria:
200 animals rescued from Muncie pet shop
A Muncie pet store was shut down after it was raided by Muncie Animal Control on Friday.
Alternative high school opens in Beech Grove
A program that targets at-risk students has found success in Kokomo and was expanding across the state.
Corrections officer accused of sexual misconduct
A Howard County Community Corrections officer turned himself in to police Friday evening after a warrant was issued for his arrest a week earlier.
Police arrest 2 in double shooting
Indianapolis police arrested two men in connection with a shooting that killed one person and critically injured another.
Not guilty plea for 4th Richmond Hill suspect
Investigators had been suspicious of the man charged this week with murder and arson in the deadly 2012 Indianapolis house explosion before a…