Sunoco to Sell Haverhill Phenol Plant To Goradia Capital for $106.5M

Sunoco, Inc.

announced today that it has reached a definitive agreement to sell its phenol manufacturing facility in Haverhill, Ohio, to Haverhill Chemicals LLC, an affiliate of Goradia Capital LLC. Sunoco will sell the facility and the estimated value of the product inventory attributable to the facility for a combined purchase price of approximately $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 the second quarter of 2011.