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SUNOCO
AND EPSILON ENTER INTO AGREEMENTS UNDER WHICH SUNOCO WILL ASSUME
RESPONSIBILITY FOR GENERAL MANAGEMENT OF EPSILON
Philadelphia,
October 19, 2001 -- Epsilon Products Company (Marcus Hook, PA)
and Sunoco, Inc. (Philadelphia, PA) today announced they have
entered into agreements under which Sunoco will assume
responsibility for general management, sales, and support
functions on Epsilon’s behalf. Epsilon Products Company is a
joint venture between Sunoco, Inc. and BAR-L, Inc.,
whose 760 million-pound plant at Marcus Hook, PA, manufactures a
full range of polypropylene products. The joint venture was
formed in June 2000. Although Epsilon will continue as a
distinct legal entity for ownership purposes, Sunoco will
combine elements of Epsilon’s current organization with its
own resources to provide a wider range of services and products
to all customers. Sunoco will market Epsilon production under
the Sunoco name in combination with production from its own two
polypropylene plants. Total combined productive capacity will
now equal approximately 2.3 billion pounds per year. Both
companies expect the process to be completed by early 2002.
Sunoco Chemicals, a business unit
of Sunoco, Inc., currently operates 1.5 billion pounds of
polypropylene capacity at its LaPorte, TX and Neal, WV plants,
selling products predominantly throughout North America and
utilizes a supporting technical center in Pittsburgh, Pa. Sunoco
Chemicals is also a leading marketer of phenol and related
derivatives and plasticizers.
Sunoco, Inc. (NYSE: SUN)
headquartered in Philadelphia, PA, is a leading manufacturer and
marketer of petroleum and petrochemical products. With 730,000
barrels per day of refining capacity, almost 4,100 retail sites
selling gasoline and convenience items, interests in over 10,000
miles of cured oil and refined product pipelines and 35 product
terminals, Sunoco is one of the largest independent
refiner-marketers in the United States. Sunoco is a growing
force in petrochemicals with over nine billion pounds of annual
production capacity, largely chemical intermediates used in the
manufacture of fibers, plastics, film and resins. Sunoco also
manufactures almost two million tons annually of high-quality
metallurgical-grade coke for use in the steel industry.
BAR-L, Inc., a privately-owned
company headquartered in Washington, PA, is an affiliate of
Washington Penn Plastic Co., Inc. and Uniform Color Company,
Inc., and a member of the Audia Group of companies. Washington
Penn Plastic is a leading, high quality producer and distributor
of a wide variety of compounded polypropylene and polyethylene
products. Uniform Color Company is a leading producer of color
concentrates. Together, the Audia Group of companies supplies
products and services to major manufacturers of automobiles and
finished goods in North America and Europe.
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