Brazilian firm buys refinery assets

Posted: July 06, 2012

Braskem America, the subsidiary of a Brazilian industrial firm that bought Sunoco Chemical two years ago, said it had it acquired the propylene splitter assets at Sunoco's closed refinery in Marcus Hook. The unit produces material used by Braskem in its neighboring plant to manufacture polypropylene plastic.

"This transaction represents an important step in preserving the viability of Braskem's Marcus Hook polypropylene facility for the foreseeable future and solidifying Braskem's continued commitment to the North American petrochemical market," the company, which is based in Philadelphia, said in a statement.

Braskem's supply of propylene had been in question after Sunoco closed the Marcus Hook refinery in December, but Braskem says it now has secured a supply of the raw material from multiple sources.

Andrew Maykuth

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