18 May 2011 15:07 [Source: ICIS news]
HOUSTON (ICIS)--Sunoco has agreed to sell its 1bn lb/year phenol and acetone plant in ?xml:namespace>
The move is part of Sunoco’s strategy to divest certain non-core assets, CEO Lynn Elsenhans said.
Last year, Sunoco sold its polypropylene business to
Sunoco expects to incur pre-tax charges of up to $150m in the second quarter related to the sale of the phenol plant, it said.
The deal is expected to close in the third quarter.
($1 = €0.70)
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