PHILADELPHIA, Feb. 12 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE:
SUN) announced today plans for a second Sun Coke Company Heat Recovery coke
manufacturing plant in Haverhill, Ohio. Long-term contracts for the sale of
coke have been executed with customers. Construction is scheduled to begin
later this quarter.
(Logo: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006 )
The facility will be 100 percent owned and operated by Sun Coke and
have 100 Jewell Thompson Heat Recovery ovens that will produce
approximately 550 thousand tons of blast furnace coke per year. The
facility is designed to capture waste heat from the ovens to produce and
supply steam to a 67 megawatt turbine, to provide a net average of 46
megawatts of power into the regional power market. Total cost is estimated
at approximately $230 million and full production is expected about 18
months after construction begins.
"We are pleased to proceed with the construction of an additional
facility at our Haverhill, Ohio location," said Michael Dingus, Senior Vice
President of Sunoco, Inc. and President of Sun Coke Company. "State and
local incentives were important in making this expansion possible and Sun
Coke and its customers appreciate these efforts to support economic
expansion in this region. For Sunoco, this marks the next step in the
growth of our Coke business and will provide steady income and attractive
returns to our shareholders."
Sun Coke Company's process utilizes technology that virtually
eliminates coke oven emissions and is specifically referenced in the U.S.
Clean Air Act as the "maximum achievable control technology" for coke
production. The first Haverhill coke plant also produces 550 thousand tons
of coke per year and began operation in March 2005.
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading
manufacturer and marketer of petroleum and petrochemical products. With
900,000 barrels per day of refining capacity, nearly 4,700 retail sites
selling gasoline and convenience items, approximately 5,500 miles of crude
oil and refined product owned and operated pipelines and 38 product
terminals, Sunoco is one of the largest independent refiner-marketers in
the United States. Sunoco is a significant manufacturer of petrochemicals
with annual sales of approximately five billion pounds, largely chemical
intermediates used to make fibers, plastics, film and resins. Sunoco also
manufactures approximately 2.5 million tons annually of high-quality
metallurgical-grade coke for use in the steel industry. For additional
information, visit Sunoco's Web site at http://www.Sunocoinc.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995:
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Sunoco believes that its
expectations are based on reasonable assumptions. No assurance, however,
can be given that its goals will be achieved. A number of factors could
cause actual results to differ materially from the projections, anticipated
results, or other expectations expressed in this release. While Sunoco
makes these forward-looking statements in good faith, Sunoco cannot
guarantee that the anticipated future results will be achieved. Risks and
uncertainties concerning Sunoco's business are more fully described in
Sunoco's Form 10-Q for the quarter ended September 30, 2006, filed with the
Securities and Exchange Commission on November 2, 2006. Sunoco undertakes
no obligation to update any forward-looking statements in this news
release, whether as a result of new information or future events.
SOURCE Sunoco, Inc.
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Related links:
http://www.Sunocoinc.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/829144.html /
CONTACT:
Jerry Davis (media), +1-215-977-6298, or Tom
Harr (investors), +1-215-977-6764, both of Sunoco
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