SunCoke Energy’s Spin-off From Sunoco Completed
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SunCoke Energy has become a 100 percent publicly traded company as a result of Sunoco’s distribution of all its remaining shares of SunCoke common stock to Sunoco shareholders. Sunoco had held approximately 80.9 percent of the outstanding shares of SunCoke.
This distribution was made today in the form of a tax-free, pro-rata distribution of all the remaining shares of SunCoke common stock owned by Sunoco in the form of a special dividend to Sunoco shareholders.
“Today marks the completion of the planned separation of SunCoke Energy from Sunoco. As an independent, publicly-owned company, we believe SunCoke has increased flexibility to pursue domestic and international growth strategies, meet the needs of our steelmaking customers and create opportunities for our employees and shareholders. We thank Sunoco’s leadership team led by Lynn L. Elsenhans and the Sunoco Board of Directors for their support and for working to ensure that our company has a solid foundation from which to grow our business over the long-term,” said Frederick A. “Fritz” Henderson, chairman and chief executive officer of SunCoke Energy.
About Suncoke Energy
SunCoke Energy is the largest independent producer of metallurgical coke in the Americas, with about 50 years of experience supplying coke to the integrated steel industry. Our advanced, heat recovery cokemaking process produces high-quality coke for use in steelmaking, captures waste heat for derivative energy resale and meets or exceeds environmental standards. Our cokemaking facilities are located in Virginia, Indiana, Ohio, Illinois and Vitoria, Brazil, and our coal mining operations, which have more than 100 million tons of proven and probable reserves, are located in Virginia and West Virginia.
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