SXCP has acquired Convent Marine Terminal, a premier export hubs on the U.S. Gulf Coast, for $412 million. Located in Convent, La., the terminal supports low-cost Illinois Basin coal producers and provides strategic access to seaborne markets for coal and other industrial materials.
“This acquisition will represent a compelling strategic fit by adding a preeminent export asset to our coal logistics business,” said Fritz Henderson, Chairman and CEO of SunCoke Energy Partners, L.P. “We expect this transaction will be accretive from day one with consistent earnings and stable cash flows for SXCP, resulting in increased cash distributions to SXCP unitholders and higher incentive distribution payments to our general partner.”
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to the integrated steel industry under long-term take-or-pay coke contracts that pass through commodity and certain operating costs to customers. We utilize an innovative heat-recovery cokemaking technology that captures excess heat for steam or electrical power generation. We are the sponsor of SunCoke Energy Partners, L.P. (NYSE: SXCP), a publicly traded master limited partnership, holding a 2 percent general partner interest, 56...More >>
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