SUNCOKE ENERGY, INC. (NYSE:SXC) Files An 8-K Other Events
On November28, 2016, SunCoke Energy, Inc. (the Company)
issued a press release announcing the redemption by ArcelorMittal
Brasil S.A. of the Companys indirectly held preferred equity
interest in Sol Coquera Tubaro Ltda. for cash consideration of
$41 million. The Company received $20.5 million in cash at
closing and will receive the remaining $20.5 million in cash,
plus accrued interest, on April1, 2017. The Company will no
longer receive its approximately $9.5 million annual dividend on
the redeemed equity interest.
The Company will continue to operate the metallurgical cokemaking
facility located in Vitria, Brazil on behalf of ArcelorMittal,
and will continue to earn existing operating and technology fees
of approximately $10 million per year. Additionally, starting in
2016, the Company will receive an incremental $5.1 million in
technology fees per year through 2023 related to the addition of
certain patents to its existing intellectual property licensing
agreement, which are currently in use by ArcelorMittal at the
The foregoing disclosure is qualified in its entirety by the
Companys press release, a copy of which is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
Safe Harbor Statement
Statements contained in the exhibit to this report that state the
Companys or managements expectations or predictions of the future
are forward-looking statements intended to be covered by the safe
harbor provisions of the Securities Act of 1933 and the
Securities Exchange Act of 1934. The Companys actual results
could differ materially from those projected in such
forward-looking statements. Factors that could affect those
results include those mentioned in the documents that the Company
has filed with the Securities and Exchange Commission.
|Item9.01||Financial Statements and Exhibits.|
SunCoke Energy, Inc. Press Release, announcing redemption of
Brazilian equity interest (November 29, 2016).
About SUNCOKE ENERGY, INC. (NYSE:SXC)
SunCoke Energy, Inc. is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively. The Brazil Coke segment operates a cokemaking facility located in Vitoria, Brazil for a project company. The India Coke segment consists of its cokemaking joint venture with Visa Steel Limited in Odisha, India. The Coal Logistics segment consists of its coal handling and/or mixing service operations in East Chicago, Indiana; Ceredo, West Virginia; Belle, West Virginia; Catlettsburg, Kentucky, and Convent, Louisiana. SUNCOKE ENERGY, INC. (NYSE:SXC) Recent Trading Information
SUNCOKE ENERGY, INC. (NYSE:SXC) closed its last trading session down -0.12 at 11.48 with 836,293 shares trading hands.