Brazil’s Braskem closes on $350m deal for Sunoco PP business

01 April 2010 15:25  [Source: ICIS news]

HOUSTON (ICIS news)--Sunoco has completed the $350m (€259m) sale of its polypropylene (PP) business to Brazil’s Braskem, the US refiner said on Thursday.

The sale included Sunoco facilities in Marcus Hook, Pennsylvania, La Porte, Texas, and Neal, West Virginia - which combined have a PP production capacity of 2.1bn pounds/year (952,000 tonnes/year), the company said.

The sale also includes a research and technology centre in Pittsburgh, Pennsylvania, Sunoco said.

“The sale demonstrates our continued progress in realigning our portfolio of assets and provides capital to redeploy for future growth in our core businesses,” Sunoco CEO Lynn Elsenhans said.

($1 = €0.74)

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By: Ben DuBose
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