Sunoco Inc. announced Wednesday it was 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,” Honeywell spokesman Peter Dalpe said.
Phenol is a raw material used in manufacturing nylon. The Frankford plant supplies a Honeywell plant in Virginia, Dalpe said.