三菱商事　アリステック・ケミカルをスノコ社に売却　

Sunoco Signs Letter of Intent to Sell Its Plasticizer Business to BASF

Sunoco to Close Polypropylene Plant in Bayport, Texas

Sunoco Announces Agreement to Sell Polypropylene Business to Braskem

Sunoco selling Frankford plant to Honeywell

Sunoco to sell its last chem complex with phenol deal

Sunoco to Exit Refining and Conduct Strategic Review of the Company

Sunoco Enters into Exclusive Discussions with The Carlyle Group Regarding Philadelphia Refinery JV

April 25, 2003

Sunoco Signs Letter of Intent to Sell Its Plasticizer Business to BASF
　　　　　　　http://www.sunocochem.com/news/3975.htm

Sunoco, Inc. today announced the signing of a letter of intent for Sunoco to sell its plasticizer operations to BASF.

The sale includes the Sunoco Pasadena, Texas, site, including the land, phthalic anhydride, and oxo manufacturing plants, plus the plasticizer esters, 2-ethylhexanol, and phthalic anhydride businesses. Although the Sunoco Neville Island site is not part of the transaction, it will produce plasticizers for BASF under a tolling agreement.

Jan 13, 2009 Sunoco

Sunoco to Close Polypropylene Plant in Bayport, Texas

Sunoco, Inc. (NYSE: SUN) announced today that it will permanently close its polypropylene manufacturing facility located in Bayport, Texas, no later than April 30, 2009. The facility can produce approximately 400 million pounds of polypropylene each year.

"The decision to close the facility was made after an extensive review which demonstrated that the plant is no longer financially viable," said Bruce D. Rubin, Vice President of Sunoco Chemicals.

Sunoco has three other polypropylene facilities, located in La Porte, Texas; Marcus Hook, Pa.; and Neal, W.Va., that will assume a portion of Bayport's production. "Our goal is to ensure that we make the most competitive and profitable mix of products to meet customer demand," Rubin said.

Sunoco expects to record a non-cash after tax charge in the fourth quarter of 2008 totaling approximately $35 million in connection with the decision to close the facility.

Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer and marketer of petroleum and petrochemical products. With 910,000 barrels per day of refining capacity, approximately 4,700 retail sites selling gasoline and convenience items, approximately 6,000 miles of crude oil and refined product owned and operated pipelines and 44 product terminals, Sunoco is one of the largest independent refiner-marketers in the United States. Sunoco is a significant manufacturer of petrochemicals with annual sales of approximately five billion pounds, largely chemical intermediates used to make fibers, plastics, film and resins. Utilizing a unique, patented technology, Sunoco's cokemaking facilities in the United States have the capacity to manufacture approximately 3.0 million tons annually of high-quality metallurgical-grade coke for use in the steel industry. Sunoco also is the operator of, and has an equity interest in, a 1.7 million tons-per-year cokemaking facility in Vitoria, Brazil.

Bayport, Texas：
Sunoco purchased the Bayport, Texas polypropylene facility in the spring of 2003 from Equistar Chemicals. The Bayport plant has an annual capacity of 400 million pounds. This acquisition complemented and enhanced our polypropylene position, making us the third largest pro- ducer in North America.

La Porte, Texas：
Sunoco acquired this plant in 2001 when it purchased Aristech Chemical Corporation.

Marcus Hook, Pa.：
Sunoco, Inc. assumed full ownership of the Marcus Hook polymers plant on January 1, 2008.
The facility was previously operated by Sunoco as part of a joint venture Epsilon Products Company between Sunoco and BAR-L Inc.
It has a 760-million-pound polypropylene plant in Marcus Hook, Pa. which is strategically integrated with the adjacent Marcus Hook refinery.

Neal, W.Va：
Sunoco acquired this plant in 2001 when it purchased Aristech Chemical Corporation.

Using the latest production technology, the Neal plant is one of the lowest-cost producers of polypropylene in North America. It is located close to its sources of raw materials and within 500 miles of the majority of US polypropylene consuming markets.

Feb 01, 2010

Sunoco Announces Agreement to Sell Polypropylene Business
Closes Previously Idled Eagle Point Refinery

Sunoco, Inc. said today that it has reached an agreement to sell its subsidiary Sunoco Chemicals, Inc., comprised of its polypropylene business, to Braskem S.A., one of the largest producers of petrochemicals and thermoplastic resins in the Americas, for approximately $350 million in cash. The sale will include assets and inventory attributable to the polypropylene business, subject to a market-based working capital adjustment at the time of closing. The transaction is subject to regulatory approval and customary closing conditions, and is expected to close on or before March 31, 2010.

Chairman and Chief Executive Officer Lynn L. Elsenhans said, "The sale of our polypropylene business demonstrates the company's continued progress in realigning our portfolio of assets and improving returns on invested capital. This transaction produces value for our shareholders by monetizing a business that has not been able to meet its cost of capital and provides us with capital to redeploy for future growth in our areas of strategic focus. Sunoco is grateful to the talented and dedicated employees who made the business an important part of the company for many years. We wish them well as they prepare to join Braskem."

Included in the sale are Sunoco's polypropylene manufacturing facilities in Marcus Hook, Pennsylvania; La Porte, Texas; and Neal, West Virginia, which have the combined capacity to produce approximately 2.1 billion pounds of polypropylene annually. The sale also includes Sunoco's Research and Technology Center located in Pittsburgh, Pennsylvania.
　　　　Sunoco to Close Polypropylene Plant in Bayport, Texas

Sunoco will retain its phenol and derivatives business, which has manufacturing assets located in Philadelphia, Pennsylvania and Haverhill, Ohio.

Sunoco expects to record a pre-tax loss on the sale in the first quarter of 2010 of approximately $185-$195 million.

Sunoco also announced today that it has permanently shut down its previously idled Eagle Point refinery in Westville, New Jersey due to continuing weak demand for refined products and unfavorable market conditions. Processing units at Eagle Point were idled in early November 2009 and have now been permanently shut down. However, refined product storage and handling operations there will continue. In addition, Sunoco is exploring a number of options for using the site in the future, including as a potential center for biofuels production. The shutdown is not expected to have a material financial impact on the company beyond what has previously been recorded in 2009.

Commenting on the shutdown, Ms. Elsenhans said, "Given weak industry dynamics, we are confident we are taking the right actions to improve our overall competitiveness, set the stage for investing in our strong regional brand, explore opportunities in biofuels, and provide customers with a broader choice of transportation fuel options."

Employees furloughed after the refinery was idled are eligible for a severance program that includes job placement assistance and retraining, as well as a continuation of medical benefits for the length of the severance.

Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer and marketer of petroleum and petrochemical products. With 675,000 barrels per day of refining capacity, approximately 4,700 retail sites selling gasoline and convenience items, and an ownership interest in approximately 6,000 miles of crude oil and refined product pipelines and approximately 40 product terminals, Sunoco is one of the largest independent refiner-marketers in the United States. Sunoco is a significant manufacturer of petrochemicals with annual sales of approximately five billion pounds, largely chemical intermediates used to make fibers, plastics, film and resins.

The Chemicals business manufactures, distributes and markets refinery-based petrochemicals used in the fibers, resins and specialties markets.

Key products include polypropylene, phenol and bisphenol-A used in many consumer and industrial products. With production at nine plants and annual sales of approximately five billion pounds, Sunoco Chemicals is a major force in its markets.
Sunoco Chemicals' product line includes phenol, acetone, nonene, tetramer, alpha-methylstyrene, toluene, xylene, benzene, cyclohexane, bisphenol-A, and polypropylene. We are the number one producer of phenol in the US and number two globally. We are a leading producer of polypropylene in North America. Further strengthening its position in polypropylene is its Technology & Commercial Center in Pittsburgh, PA, which is among the most advanced technical support facilities worldwide dedicated to helping customers meet market challenges.

Utilizing a technology with several proprietary features, Sunoco's cokemaking facilities in the United States have the nominal capacity to manufacture approximately 3.67 million tons annually of high-quality metallurgical-grade coke for use in the steel industry. Sunoco also is the operator of, and has an equity interest in, a 1.7 million tons-per-year cokemaking facility in Vitoria, Brazil.
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Braskem

Braskem acquires Sunoco Chemicals in the United
The acquisition of Sunoco's polypropylene business for US$350 million initiates the Company's operations in the U.S. market

BRASKEM S.A., the leading resin producer in the Americas announced that it has signed an agreement with Sunoco, Inc. , an U.S.-based oil company, for the acquisition by Braskem of the polypropylene (PP) business of Sunoco Chemicals, Inc.. Sunoco will receive US$350 million for the shares in Sunoco Chemicals (only PP assets), upon closing, within 60 days. This transaction represents an important step in Braskem’s international expansion process.

Sunoco Chemicals has annual production capacity of 950,000 tons of polypropylene. The company headquarters is located in Philadelphia, PA, and Sunoco Chemicals has three plants located at La Porte, TX, Marcus Hook, PA, and Neal, WV, which account for approximately 13% of installed U.S. polypropylene production capacity.

"The acquisition of Sunoco Chemicals provides Braskem with a solid and competitive platform for growth in the world’s biggest market, which will complement its ongoing internationalization strategy through important greenfield projects under development in Mexico, Venezuela and Peru," said Braskem’s CEO Bernardo Gradin.

In addition to Sunoco’s industrial units, the acquisition also includes a technology and development center in Pittsburgh, PA, which will play an essential role for Braskem in continuing to provide support for clients in product and market development and technical assistance services.

Braskem expects to leverage this industrial and commercial base to complete potential acquisitions or strategic alliances in the future and expand its presence in the U.S. market and its leadership role as the largest resin producer in the Americas, aiming to achieve its objective to become one of the 5 largest petrochemical companies worldwide.

In this acquisition, Braskem had 2 financial advisors: JP Morgan and Blackstone.

ブラスケムはこのたび、ペトロブラスの石油化学部門と統合、PP能力を197万トンとしている。
（PEは304万トン、PVCは51万トン）
2010/1/25　BraskemとPetrobrasの石油化学事業統合

May 18, 2011 The Philadelphia Inquirer 　　　 2008/12/19　Sunoco、化学品部門の売却を検討
　　　　　　　　　　　　　　　　　　　　　　　　　　 　2010/2/3　Sunoco、ポリプロ事業をブラジルのBraskemに売却

Sunoco selling Frankford plant to Honeywell

Sunoco Inc. announced Wednesday it is selling its Frankford phenol and acetone plant for $85 million, the latest asset divestiture by the Philadelphia refiner.
The buyer, Honeywell International Inc., says it will keep the 162 employees at the manufacturing facility.
"We do expect to add some positions within both the production and supply chain areas, as well as key functional support areas," said Honeywell spokesman Peter Dalpe.
Phenol is a raw material used in manufacturing nylon. The Frankford plant supplies a Honeywell plant in Virginia, Dalpe said.
"Owning the plant secures long-term access to phenol and gives Honeywell an opportunity to improve the plant and its operations to ensure a more reliable, low-cost supply of phenol," he said in an e-mail.
He said Honeywell also believes it can grow profitable sales of phenol, which is currently in tight supply.
For Honeywell, the purchase represents a reunion. AlliedSignal Inc., which merged with Honeywell in 1999, sold the plant to Sunoco in 1998 for $157 million.
Sunoco said it expects to incur mostly non-cash pretax charges of about $125 million-$150 million in the second quarter of 2011. The sale is expected to close in the third quarter.
Sunoco retained the Frankford facility last year after selling its chemicals unit to Brazilian petrochemical producer Braskem S.A.
Sunoco still owns and operates a second phenol plant in Haverhill, Ohio.
The divestiture is Sunoco's latest asset sale during the 33-month tenure of chief executive officer Lynn L. Elsenhans.
"The sale of Sunoco's Frankford phenol manufacturing facility is another step in our efforts to unlock value for shareholders by divesting certain non-core assets and focusing on our retail and logistics businesses," she said in a statement.

2003/11/26

Sunoco Chemicals says it has shut a 350-million lbs/year phenol line at Haverhill, OH. The company says the line is its "most inefficient production capacity," and the shutdown will allow it to boost production rates at two remaining phenol lines at Haverhill, and two lines at Frankford, PA. Sunoco says it will remain the largest U.S. phenol producer after the shutdown, with production capacity of 1.8 billion lbs/year. Sunoco obtained the Haverhill plant when it purchased Aristech in 2001. Sunoco formerly supplied some phenol from Haverhill to its aniline plant, which was closed last year.

The phenol unit will be maintained for a possible restart when capacity is needed, Sunoco says. The company has indicated that the plant will remain shut for at least two years, one market source says. Sunoco has 700 million lbs/year of phenol capacity at the two lines continuing to operate at Haverhill, and an additional 1.1 billion lbs/year of capacity at two lines at Frankford. Roughly 750 million lbs/year of phenol from Frankford is committed to Honeywell under a long-term supply contract.

---

On July 1, 1998 Sunoco purchased AlliedSignal's phenol plant, located in the Frankford area of Philadelphia, and the plant's merchant customer base.  The acquisition places Sunoco chemicals in a strong integrated position from refinery feedstocks through to chemical intermediates phenol and acetone.

The Frankford plant currently manufactures more than 1 billion pounds of phenol, 620 million pounds of acetone and 70 million pounds of alpha-methylstyrene, making it the largest producer of the basic chemicals in North America and one of the two largest in the world.  Phenol is the main building block chemical in the production of nylon and is also used to make pharmaceuticals, resins, and polycarbonates.  Acetone is used to make acrylic sheet, printing inks, paints and varnishes.

Sunoco acquired Haverhill plant in 2001 when it purchased Aristech Chemical Corporation.

Haverhill produces a broad range of chemicals in technologically advanced operations and includes one of the world's largest phenol production operations. The plant is located along the Ohio River, adjacent to major railroad and highway transportation.

2008/12/19　Sunoco、化学品部門の売却を検討
2010/2/3　Sunoco、ポリプロ事業をブラジルのBraskemに売却

Sunoco to Exit Refining and Conduct Strategic Review of the Company
     Company's previously announced share repurchase program substantially complete

Sunoco, Inc. announced today that it plans to exit its refining business and has begun a process to sell its refineries located in Philadelphia and Marcus Hook, Penn. Sunoco also announced that it is conducting a comprehensive strategic review of the company to determine the best way to deliver value to shareholders, including how best to utilize the company's strong cash position and maximize the potential for Sunoco's logistics and retail businesses. Credit Suisse Securities (USA) LLC has been retained to assist in the review process.

Sunoco will pursue all options to sell its refineries, but if a suitable transaction cannot be implemented, the company intends to idle the main processing units at the facilities in July 2012.

"We have made progress in increasing the efficiency of our refineries over the last several years, but given the unacceptable financial performance of these assets, it is clear that it is in the best interests of shareholders to exit this business and focus on our profitable retail and logistics businesses which have higher returns, growth potential, and provide steady, ratable cash flow," said Lynn L. Elsenhans, Sunoco's chairman and chief executive officer.

Together with the separation of SunCoke Energy and the sale of the chemicals business, Sunoco's decision to exit refining marks a fundamental shift away from manufacturing that will re-position the company.

In connection with the decision to exit refining, the company expects to record a pretax noncash charge of between $1.9 billion and $2.2 billion in the third quarter of 2011 related to impairment of the plant and equipment in the refineries. In the event the processing units are idled, additional pretax charges of up to $500 million, primarily related to contract terminations, staffing costs and severance, may be incurred. Most of these costs would be paid over a period of approximately one year. Additionally, upon the sale of the refineries or idling of the main processing units, the company expects to record a pretax gain related to the liquidation of all of its crude oil and a significant portion of its refined product inventories totaling approximately $2 billion at current market prices. The actual amount of this pretax gain will depend upon the market value of crude and refined products and the volumes on hand at the time of liquidation.

Regarding the strategic review process, Elsenhans said, "With SunCoke's recent initial public offering, our complete exit from the chemicals business, and our plan to exit refining, we have an opportunity to take a fresh look at all aspects of the company and gain added perspective on how best to use our cash and maximize the potential for our strong retail and logistics businesses with a view toward creating value for our shareholders."

Mar 23, 2011 Sunoco Sunoco, Inc. took another step today toward the previously announced separation of its metallurgical cokemaking business from its other businesses with the filing by its subsidiary, SunCoke Energy, Inc., of a registration statement with the Securities and Exchange Commission for a proposed initial public offering of shares of SunCoke's common stock.

Sunoco has not set a timetable for completing the strategic review process, and will provide updates as appropriate.

Share repurchase

Sunoco also announced that it has substantially completed the $500 million share repurchase program that was announced on August 9, 2011. The share repurchases were funded by the company's available cash reserves and resulted in the repurchase of 13,140,586 shares at an average price of $34.74 per share. As of September 6, 2011, the company has approximately 108 million shares of common stock outstanding.

2012/4/23 Sunoco　

Sunoco Enters into Exclusive Discussions with The Carlyle Group Regarding Philadelphia Refinery Joint Venture

Sunoco, Inc. announced today that it has entered into exclusive discussions with The Carlyle Group, a global alternative asset manager, regarding a potential joint venture involving Sunoco's 330,000 barrel-per-day refinery in Philadelphia. If a transaction were to be consummated, Sunoco would contribute its Philadelphia refinery assets in exchange for a non-operating minority interest in the joint venture. In addition, Sunoco would have no on-going capital obligations with respect to the refinery. Carlyle would contribute cash to the joint venture, hold the majority interest and oversee day-to-day operations of the joint venture and the facility. No other financial terms of the potential transaction were disclosed and there can be no assurances that the two companies will come to agreement.

In 1988, Sunoco acquired the refinery in South Philadelphia as part of its purchase of Atlantic Refining and Marketing Company and, in 1994, purchased the adjacent refinery from Chevron. Integrating the two refineries into one facility with two operating areas, Sunoco created the Philadelphia Refinery.

Speaking on the potential joint venture and what it could mean to operations at the Philadelphia refinery, Sunoco's president and chief executive officer Brian P. MacDonald said, "The Carlyle Group has financial depth, broad energy sector experience, and a history of building value. We believe having a strong partner like Carlyle with a track record of leading successful business turnarounds is necessary to preserve the facility's future. Also, a concerted effort by all stakeholders is necessary to ensure the successful completion of this joint venture. We have been encouraged by the offers of support by federal, state, local and labor officials."

Rodney S. Cohen, Managing Director, The Carlyle Group, said, "We are working actively with Sunoco and other stakeholders to explore ways to keep this vital facility operating. The facility has been operating at a significant loss for some time, and we are exploring every avenue to create a viable plan. It is a heavy lift and we are not sure a solution is possible, but we are doing the work."

Leo W. Gerard, International President, United Steel Workers, said, "The USW is more than willing to work with all levels of government and any willing party who has the common goal with us to keep these East Coast refining facilities in operation. We continue to believe their ongoing operation is crucial not only to the thousands of our members employed there but to the surrounding communities and to effectively deal with the nation's fuel and energy issues."

In light of these on-going discussions with Carlyle, Sunoco intends to extend its previously announced timeline and operate the Philadelphia refinery through July 2012. If a suitable transaction with Carlyle cannot be completed, the company would proceed with idling the main processing units at the refinery in August 2012.

About Sunoco

Sunoco is a leading logistics and retail company. The company owns the General Partner interest of Sunoco Logistics Partners L.P. , which consists of a two percent interest and incentive distribution rights, and owns a 32 percent interest in the Partnership's limited partner units. Sunoco Logistics is an owner and operator of complementary pipeline, terminal and crude oil acquisition and marketing assets. Sunoco also has a network of approximately 4,900 retail locations in 23 states.