01 February 2010 17:23 [Source: ICIS news]
(adds paragraphs 1-3)
However, “We have a duty to shareholders to consider any reasonable offer, and if someone were to come in and offer a good price, we would certainly consider it,” spokesman Thomas Golembeski said.
“But we’re not on the street actively marketing it anymore,” he added.
Golembeski commented after the company noted that its phenol business was not included in its $350m (€252m) deal with Brazil’s Braskem, despite previous indications that the company was looking to divest its entire chemicals unit.
Sunoco's phenol business has an annual capacity of about 862,000 tonnes. As of 2009, that made it the top phenol producer in
The phenol plants are in
As of last year, Sunoco said it was pursuing the sale of its entire chemicals business because of continued underperformance within the segment.
Additional reporting by Heather Doyle
($1 = €0.72)
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