AK Steel board OKs SunCoke contract
A long-term agreement between AK Steel Corp. and SunCoke Energy Inc. will bring a new and environmentally friendly plant to Middletown.
The steel maker said Monday that its board has approved a 20-year supply contract with Knoxville, Tenn.-based SunCoke. In turn, SunCoke will build a facility adjacent to AK Steel’s Middletown Works that will use a "green" heat recovery method to produce coke.
AK Steel will purchase all of the coke plant’s production for at least 20 years, according to a news release. AK Steel operates coke-producing facilities in Middletown and Ashland, Ky., but still buys about 25 percent of its supply on the open market same day payday loans.
The deal is contingent on SunCoke receiving approvals and permits for the plant, along with economic incentives.
SunCoke, a unit of Sunoco Inc. (NYSE: SUN) operates plants in Vitoria, Brazil; Vansant, Va.; Chicago; and Haverhill, Ohio, in Scioto County. AK Steel (NYSE: AKS) is headquartered in West Chester.
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