SunCoke To Acquire Phoenix Global

(RTTNews) - SunCoke Energy, Inc. (SXC) has entered into a definitive merger agreement pursuant to which SunCoke will acquire all of the common units of Flame Aggregator, LLC, which together with its subsidiaries operates as Phoenix Global, a privately held provider of mission-critical mill services to major steel producing companies, for $325 million on a cash free, debt free basis. SunCoke Energy expects the acquisition to be immediately accretive, and to provide between $5 million and $10 million annually of anticipated synergies.

With the addition of Phoenix, SunCoke will be diversifying into electric arc furnace operations. Phoenix's global footprint will add international markets to SunCoke's portfolio.