SunCoke Energy, Inc. announced the successful completion of its previously announced acquisition of Phoenix Global for $325 million on August 1, 2025. The transaction was funded using a combination of cash on-hand and borrowings from its revolving credit facility.
The acquisition of Phoenix Global is a key strategic move, adding electric arc furnace (EAF) operations and expanding SunCoke's presence into international markets. This diversification broadens SunCoke's customer base and enhances its capabilities as a supplier of industrial services to steelmaking customers.
SunCoke plans to leverage its core strengths, including advanced technology, operational discipline, and strong financials, to support and grow these new operations. The completion of this acquisition marks a significant step in positioning SunCoke for long-term, sustainable earnings growth and increased shareholder value.
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