SunCoke acquires West Virginia coking terminal

Thursday, 03 October 2013 23:26:02 (GMT+3)   |   San Diego
       

SunCoke Energy Partners, L.P. announced Tuesday that the company completed the acquisition of 100 percent of the ownership interest in Kanawha River Terminals LLC (KRT) for $86 million. SXCP financed this acquisition with a combination of available cash and its existing revolving credit facility.

KRT is a West Virginia-based metallurgical and thermal coal blending/handling terminal service provider with the collective capacity to blend and Transload more than 30 million tons of coal annually. Due to its strategic river locations and convenient access to highways and railroads, KRT can deliver products to US ports in the Gulf Coast, East Coast and Great Lakes.

KRT's operations are expected to be immediately accretive to SXCP's cash flows and earnings, generating a projected $12 million in EBITDA on an annualized basis and contributing an estimated $6 million, or $0.18 per unit, to distributable cash flow annually.

SXCP purchased KRT from Traxys North America LLC, an international financing, marketing, distribution and trading company in metals, minerals and mining industries and intends to maintain KRT's current operations and retain existing staff. This is SXCP's second acquisition in 2013, the first of which was Lakeshore Coal Handling Corporation, which closed on August 30, 2013.


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