Tampa, Florida-based hard coking coal producer Walter Energy Inc. announced Tuesday that it has acquired the assets of Mobile River Terminal Co. in Mobile, Alabama from a subsidiary of US Steel. Terms of the acquisition were not disclosed.
"The Mobile River Terminal is of significant strategic importance to Walter Energy," said Interim CEO Joe Leonard. "This acquisition will help ensure that we will have unconstrained shipping capacity to support our long-term coking coal production in Alabama. In addition, this facility should help maintain low mine-to-port cost and make us less reliant on their parties."
The facility is location at the Port of Mobile, less than four miles from the McDuffie Terminal where Walter Energy currently ships all of its export coal to customers in South America and Europe. The company's mines are strategically located, allowing, allowing Walter Energy to transport coal to Mobile by either rail or barge.