EAST CHICAGO | SunCoke Energy Partners L.P. has announced it intends to acquire Lakeshore Coal Handling Corp., basically bringing its employees and work in house.
SunCoke Energy will pay $29.6 million for the East Chicago company, with the transaction expected to close by the end of July, according to a statement from SunCoke Energy.
SunCoke Energy said it expects to maintain Lakeshore Coal Handling's current operations and staff. The East Chicago company, a subsidiary of privately-held Beemsterboer Corp., provides coal handling and blending services to SunCoke Energy's Indiana Harbor coke-making operations.
SunCoke Energy Partners L.P. is a master general limited partnership whose general partner is SunCoke Energy Inc., the largest independent producer of coke in the Americas.
Coke is made from coal and is a basic input in the steelmaking process, with large amounts of it mixed with iron ore in blast furnaces to heat the iron ore and begin its conversion to steel.