SunCoke to acquire Kanawha River Terminals - Beckley, Bluefield & Lewisburg News, Weather, Sports

SunCoke to acquire Kanawha River Terminals

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SunCoke Energy Partners has agreed to acquire 100 percent ownership interest in Kanawha River Terminals in an $86 million transaction. KRT has operations on the Ohio, Kanawha and Big Sandy rivers with rail access to both CSX and Norfolk Southern.

KRT is a wholly owned subsidiary of Traxys North America LLC, an international financing, marketing, distribution and trading company in metals, minerals and mining industries. The transaction is subject to regulatory approval and customary closing conditions and is expected to close in fourth quarter 2013, according to a statement issued by SunCoke.

KRT is a 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 Wayne County. The terminal has both inbound and outbound rail logistics provided by CSX and Norfolk Southern and the capability to offload and load barges. The Ceredo terminal serves domestic and international export markets.

KRT also owns an idled liquids terminal on the Ohio River that has more than four million gallons of liquid storage capacity. KRT can deliver products to all U.S. ports on the Gulf Coast, East Coast and Great Lakes.

"KRT is an excellent strategic fit with SXCP and advances our position in coal logistics," Fritz Henderson, SunCoke chairman and CEO, said in a news release. "With this acquisition, we further integrate our cokemaking business with coal handling operations that currently support our Middletown and Granite City cokemaking facilities. We also will broaden our customer base to serve companies in the coal, steel and public utility industries. We anticipate KRT's operations will be immediately accretive and contribute to future earnings and distributable cash flow growth."

KRT says it expects to handle about 15 million tons of coal this year. About 56 percent that amount will be met coal.

SunCoke plans to finance the acquisition with available cash and its existing revolving credit facility.

SunCoke Energy Partners is a publicly traded master limited partnership. It manufactures coke used in the blast furnace production of steel.