Lisle, Illinois-based Suncoke Energy Partners, LP announced Tuesday that its wholly-owned subsidiary executed a definitive agreement to acquire 100 percent of the ownership interest in Kanawha River Terminals LLC (KRT) for $86 million. KRT is wholly-owned by Traxys North America LLC, an international financing, marketing, distribution and trading company in metals, minerals and mining industries. This transaction is subject to regulatory approval and customary closing conditions and is expected to close in Q4 2013.
KRT is a leading 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. KRT owns four coal handling facilities, the largest of which is the Ceredo Terminal located on the Ohio River in West Virginia. The Ceredo terminal is able to serve both domestic and international export markets.
KRT's other coal handling facilities are located on the Big Sandy and Kanawha Rivers, as well as on Kentucky Highway 1185 near Louisa, Kentucky. In addition, KRT owns an idled liquids terminal on the Ohio River that has more than four million gallons of liquid storage capacity. With its strategic river locations and convenient access to highways and railroads, KRT can deliver products to all US ports on the Gulf Coast, East Coast and Great Lakes.
In 2013, KRT is projected to handle approximately 15 million tons of coal, 56 percent of which is anticipated to be metallurgical coal.