Blog Exposure – SunCoke Energy and Cokenergy Agree to $5 Million Settlement in Air Pollution Violations Case Filed by the DoJ

LONDON, UK / ACCESSWIRE / January 30, 2018 / Active-Investors.com has just released a free research report on SunCoke Energy, Inc. (NYSE: SXC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SXC as the Company’s latest news hit the wire. The US Department of Justice (DoJ) announced on January 25, 2018, that SunCoke Energy, its subsidiary Indiana Harbor Coke Company (IHCC), and Cokenergy LLC have agreed to settle the alleged violations under the Clean Air Act. The companies allegedly caused air pollution due to excess emissions of coke oven gases from their coke plant in East Chicago, Indiana. There are no official responses from the companies yet. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, SunCoke Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=SXC

Allegations by Government Agencies

The Government Agencies, including DoJ, US Environmental Protection Agency (EPA), the Office of the Indiana Attorney General, and the Indiana Department of Environmental Management, had alleged that the companies had violated the pollution norms and leaked coke ovens and hot coking gases directly in the atmosphere leading to excess SO2, particulate matter, and lead emissions from the Indiana plant which were way over the permissible limits. The matter is serious given that SO2 is known to cause acid rain and aggravate respiratory problems, especially in children and the elderly people, while particulate pollution can cause lung problems, intensify asthma, and even cause premature death in people with heart or lung disease. Coke oven emissions have been identified as human carcinogen which can lead to conjunctivitis, severe dermatitis, and lesions of the respiratory and digestive systems in humans due to prolonged exposure.

This is not the first time that SunCoke has come under the EPA’s lens. Earlier in June 2013, SunCoke Energy Inc. and two of its subsidiaries agreed to a $1.995 million settlement with EPA to resolve alleged Clean Air Act violations of emission limits at two of its coke plants, one at Granite City, Illinois and the other at Franklin Furnace, Ohio

Details of the Settlement

As per the settlement under the Consent Decree agreed to by the companies, they plan to undertake rebuilding of the coke ovens to address the leaks and in extreme cases shutdown worst performing battery, increase monitoring and testing to measure lead emissions, and implement a preventive maintenance and a new operations plan to minimize the rate of emissions. The Companies have also agreed to pay $5 million as penalty which will be paid equally to the US and Indiana State governments. Additionally, Cokenergy has agreed to spend $250,000 on a project to reduce lead hazards in the East Chicago area. The project will focus on young children and pregnant ladies and reduce lead hazards in schools, day-care centers, and related buildings. The companies have also agreed to provide copies of the various reports under the Decree at two East Chicago public libraries.

Impact of Consent Decree on Air Pollution

The Government expects that the implementation of the stipulations of the Consent Decree will result in reductions in estimated annual emissions. This includes reduction of 2,075 tons of coke oven emissions, 1,895 tons of SO2, 125 tons of particulate matter, 55 tons of volatile organic compounds, and 680 pounds of lead.

Comments on the Settlement

Acting Assistant Attorney General Jeffrey H. Wood said:

“This settlement will result in significant reductions in harmful air pollution and is welcome news for East Chicago, an area which is currently not meeting national air quality standards for ozone. The Justice Department’s Environment and Natural Resources Division is proud to have partnered with the EPA, the state of Indiana, and the US Attorney’s Office in achieving these results. Today’s action reflects our commitment to working together to enforce environmental laws.”

Scott Pruitt, Administrator at EPA, added:

“Today’s settlement is one example of how EPA is committed to reducing exposure to lead and other contaminants in communities across the country. Lead exposure is a serious problem and reducing it is a priority for EPA.”

About SunCoke Energy Inc.

SunCoke Energy is the General Partner and majority owner of SunCoke Energy Partners, L.P. (NYSE: SXCP). It is a raw material processing and handling Company engaged in the business of cokemaking and logistics. It owns and operates five cokemaking plants in US, one in Brazil, and one facility with JV Company VISA Steel Limited, India. The Company has cokemaking capacity of 6.3 million tons per annum. Its logistics business unit has domestic and export terminals on the Mississippi River and Ohio River Valley Basin, with direct rail access, to supply coke to producers and end users in the steel, coke, and power industries.

Stock Performance Snapshot

January 29, 2018 – At Monday’s closing bell, SunCoke Energy’s stock declined 3.25%, ending the trading session at $12.22.

Volume traded for the day: 762.84 thousand shares, which was above the 3-month average volume of 591.85 thousand shares.

Stock performance in the last month – up 0.58%; previous three-month period – up 5.80%; past twelve-month period – up 25.08%; and year-to-date – up 1.92%

After yesterday’s close, SunCoke Energy’s market cap was at $785.75 million.

Price to Earnings (P/E) ratio was at 158.70.

The stock is part of the Basic Materials sector, categorized under the Nonmetallic Mineral Mining industry.

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