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(Plastemart) -- Sunoco, Inc.
has reached a definitive agreement to sell its phenol manufacturing facility in
Haverhill, Ohio, to Haverhill Chemicals LLC, an affiliate of Goradia Capital
LLC. The transaction is subject to regulatory approval and customary closing
conditions and is expected to be completed by the end of 2011.
Sunoco will sell the facility and the estimated value of the product
inventory attributable to the facility for a combined purchase price of
approximately USD 106.5 mln. The purchase price is subject to adjustment based
upon the product inventory on hand at the closing. Sunoco incurred a pretax
non-cash charge of USD 169 mln related to the write-down of Haverhill assets in
the Q2 of 2011.
mrcplast.com
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