Kanawha River Terminal Takeover Completed
SunCoke Energy Partners (SXCP) has completed the acquisition of 100 percent of the ownership interest in Kanawha River Terminals LLC (“KRT”) for $86 million. SXCP financed 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. Due to its strategic river locations and convenient access to highways and railroads, KRT can deliver products to U.S. ports in the Gulf Coast, East Coast and Great Lakes. KRTs operations are expected to be immediately accretive to SXCP’s cash flows and earnings…
SunCoke Energy Acquire Kanawha River Terminals
KRT owns 4 coal handling facilities, the largest of which is the Ceredo Terminal located on the Ohio River in West Virginia. SunCoke Energy Partners' (SXCP) wholly-owned subsidiary has executed a definitive agreement to acquire 100 percent of the ownership interest in Kanawha River Terminals LLC (“KRT”) for $86 million. The Ceredo Terminal located on the Ohio River in West Virginia is strategically located to serve both inbound and outbound rail logistics provided by CSX and Norfolk Southern and the capability to offload and load barges. As a result, 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.
