Sunoco (SUN) to Sell Haverhill Facility in $106.5M Deal
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Sunoco, Inc. (NYSE: SUN) has reached a definitive agreement to sell its phenol manufacturing facility in Haverhill, OH, to Haverhill Chemicals LLC, an affiliate of Goradia Capital LLC, for $106.5 million.
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 $169 million related to the write-down of Haverhill assets in Q211.
Completion is expected before the end of 2011.
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 $169 million related to the write-down of Haverhill assets in Q211.
Completion is expected before the end of 2011.
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