Sunoco Inc. has reached a definitive agreement to sell its 170,000 barrel-per-day refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC. Sunoco plans to sell the refinery for approximately $400 million (consisting of $200 million in cash and a $200 million two-year note). In addition, the…
Sunoco To Supply NASCAR With E-15 Fuel
Sunoco Inc. is supplying the National Association for Stock Car Auto Racing (NASCAR) with a new high-performance fuel for the 2011 season. The new fuel-known as Sunoco Green E15—is a 15% ethanol blend that will be used in NASCAR’s three national touring series. “Since 2004, Sunoco has produced and delivered to NASCAR the world’s best…
Henderson Joins Sunoco
Sunoco Inc. has announced that Frederick “Fritz” Henderson has joined the company as a senior vice president to help prepare for the previously announced separation of SunCoke Energy from Sunoco. Henderson, 52, former president and CEO of General Motors, now is set to be chairman and CEO of SunCoke Energy upon completion of the separation.…
Sunoco Completes Sale of Polypropylene Business
Sunoco, Inc. has completed the previously announced sale its stock of subsidiary Sunoco Chemicals Inc., comprised of its polypropylene business, to Braskem S.A., for approximately $350 million. “The sale demonstrates our continued progress in realigning our portfolio of assets and provides capital to redeploy for future growth in our core businesses,” said Lynn Elsenhans, chairman…
Sunoco Downsizing
Sunoco Inc. said it is selling off 165 convenience stores and gas stations in the Eastern U.S. The properties are located in selected markets in Florida, Massachusetts, Maryland, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia. Philadelphia-based Sunoco operates a network of approximately 4,700 retail sites—including the APlus…