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Oil & Gas

Braskem buys part of Pennsylvania refinery

July 11, 2012
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PHILADELPHIA — Braskem, the leading resin producer in the Americas and the largest polypropylene producer in the United States, has acquired the propylene splitter assets at Sunoco''s former refinery in Marcus Hook, Penn., and has secured feedstock supply from multiple sources that ensures its continuing operations.

As part of the agreement, Braskem will process propylene through the splitter assets for use in its adjacent polypropylene plant.

According to Braskem America, this transaction represents an important step in preserving the viability of the Marcus Hook polypropylene facility for the foreseeable future and solidifying the company''s continued commitment to the North American petrochemical market.

"We are very pleased to complete this transaction and to bring certainty to our clients, employees and the local community regarding the future of operations at our Marcus Hook site," said Fernando Musa, CEO, Braskem America.

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