SunCoke Issues Statement Regarding Potential Idling of U.S. Steel’s Flat-Rolled Operations in Granite City
By Business Wire News
By Business Wire News
SunCoke Energy, Inc. (NYSE: SXC) and SunCoke Energy Partners, L.P. (NYSE: SXCP) issued the following statement regarding U.S. Steel’s announcement issued on October 6, 2015, that it may temporarily idle its Granite City Works flat-rolled operations given current market conditions:
“SunCoke supplies coke to U.S. Steel’s Granite City Works under a long-term, take-or-pay contract until 2025. Any potential temporary idling of their facility does not change U.S. Steel’s obligations. We expect U.S. Steel will continue to honor our contract. We value our long-standing relationship with U.S. Steel and would assist in shipping coke to other U.S. Steel facilities.”
Separately, SXC provides certain commercial protections to SXCP under an omnibus agreement that extends through January 2018.
SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to the integrated steel industry under long-term, take-or-pay 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, 53 percent limited partnership interest and all of the incentive distribution rights. Our cokemaking facilities are located in Illinois, Indiana, Ohio, Virginia, Brazil and India. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.
SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy Partners, L.P. (NYSE: SXCP) is a publicly traded master limited partnership that manufactures high-quality coke used in the blast furnace production of steel and provides export and domestic coal handling services to the coke, coal, steel and power industries. In our cokemaking business, we utilize an innovative heat-recovery technology that captures excess heat for steam or electrical power generation and have long-term, take-or-pay coke contracts that pass through commodity and certain operating costs. Our coal handling terminals have the collective capacity to blend and transload more than 45 million tons of coal each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. SXCP’s General Partner is a wholly owned subsidiary of SunCoke Energy, Inc. (NYSE: SXC), which has more than 50 years of cokemaking experience serving the integrated steel industry. To learn more about SunCoke Energy Partners, L.P., visit our website at www.suncoke.com.
SunCoke Energy, Inc.
Lisa Ciota: 630-824-1907
Steve Carlson: 630-824-1783