PHILADELPHIA, Jan. 22 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE: SUN)
said today that it had completed the previously announced sale of its
plasticizer operations and related inventory to BASF for approximately $90
million.
(Logo: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006 )
The sale includes the Sunoco Pasadena, Texas site, including the land,
phthalic anhydride, and oxo manufacturing plants, plus the plasticizer esters,
2-ethylhexanol, and phthalic anhydride businesses. Sunoco will produce
plasticizers and provide terminalling services for BASF at Sunoco's Neville
Island site, which was not part of the transaction under tolling and
terminalling agreements.
"We are pleased to have completed the sale of the plasticizer operations
to BASF," said Sunoco Chairman and Chief Executive Officer John G. Drosdick.
"The sale is an excellent outcome for both parties and for the many employees
who will continue to work with BASF. The sale generates cash for Sunoco to
redeploy in its core operations and permits our Chemicals business to focus
its efforts on its world-scale phenol and polypropylene businesses."
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer
and marketer of petroleum and petrochemical products. With 890,000 barrels per
day of refining capacity, over 4,500 retail sites selling gasoline and
convenience items, interests in almost 11,000 miles of domestic crude oil and
refined product pipelines and 33 product terminals, Sunoco is one of the
largest independent refiner-marketers in the United States. Sunoco has a
strong presence in petrochemicals with approximately six billion pounds of
annual sales, largely chemical intermediates used in the manufacture of
fibers, plastics, film and resins. Utilizing a proprietary technology, Sunoco
also manufactures two million tons annually of high-quality blast furnace coke
for use in the steel industry. For additional information, visit Sunoco's Web
site at http://www.SunocoInc.com.
SOURCE Sunoco, Inc.
 back to top
Related links:
http://www.SunocoInc.com
Company News On-Call:
http://www.prnewswire.com/comp/829144.html
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Jerry Davis (media), +1-215-977-6298 or Terry
Delaney (investors), +1-215-977-6106, both of Sunoco
|
