Friday, May 22, 2015

Sunoco completes $350M sale of subsidiary

Sunoco Inc., of Philadelphia, on Thursday said it had completed the previously announced sale of its Sunoco Chemicals Inc. subsidiary for $350 million.

The sale of the polypropylene business to Braskem S.A., of Brazil, includes manufacturing facilities in Marcus Hook; La Porte, Texas; and Neal, W. Va., which have the combined capacity to produce approximately 2.1 billion pounds of polypropylene annually.

The sale also included a research and technology center located in Pittsburgh.    - Reid Kanaley