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Slide #16. SunCoke Energy Partners, L.P. — Kanawha River Terminals LLC
SunCoke Energy Partners, L.P. (SXCP)
Kanawha River Terminals LLC
SunCoke Energy Partners, L.P. (NYSE:SXCP">SXCP) today announced 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 fourth quarter 2013. SXCP plans to finance this acquisition with a combination of available cash and its existing revolving credit facility. 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.
SunCoke Energy Partners primarily produces coke used in the blast furnace production of steel. Co. also provides handling and/or mixing services to steel, coke, electric utility, coal producing and other manufacturing based customers. Co. has two segments: Domestic Coke, which consists of its subsidiary, Haverhill Coke Company LLC facility in Franklin Furnace, OH, its subsidiary, Middletown Coke Company, LLC facility in Middletown, OH, and its subsidiary, Gateway Energy and Coke Company, LLC facility in Granite City, IL; and Logistics, which consists of its Convent Marine Terminal in Convent, LA, Kanawha River Terminal in Ceredo and Belle, WV, and SunCoke Lake Terminal in East Chicago, IN.
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Buy (3.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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