SOURCE: Industrial Info Resources

Industrial Info Resources

December 06, 2011 06:20 ET

Sunoco Begins Idling Marcus Hook Refinery, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Dec 6, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- In September, Sunoco Incorporated (NYSE:SUN) (Philadelphia, Pennsylvania) announced that the company would exit the refining business. In a company press release from that time, Sunoco announced that it would idle its refineries in July 2012 if a suitable buyer could not be found. However, employees at the Marcus Hook refinery were shocked to learn late last week that Sunoco would immediately begin the shutdown process at the facility.

Brazilian company Braskem SA (NYSE:BAK) (São Paulo, Brazil), which in 2010 bought Sunoco's adjacent polypropylene plant that receives feedstock from the refinery, has said in a company statement that it will pursue all options to keep its facility operating.

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