Wednesday, September 26th 2018

SUN - Sunoco

Sunoco (NYSE: SUN) was founded on March 27, 1886 by business partners Joseph Newton Pew and Edward O. Emerson, who decided to expand and diversify their business by buying two oil leases close to Lima, Ohio.

The company they owned at the time was named 'The Peoples Natural Gas Company' and was based in Pittsburgh, PA, considered the city Sunoco was started in.

There are five divisions in the company focusing each on a different market: Refining and Supply, Retail Marketing, Chemicals, Logistics, and Coke.

Major acquisitions from 2001 include Aristech Chemical Corporation, Eagle Point refinery, and Coastal and Speedway service stations. They also acquired a polypropylene facility from Equistar in 2003 which produces 400 million pounds-per-year, and been developing a coke-making facility in Haverhill, Ohio which will eventually supply up to 550,000 tons of coke to International Steel Group annually. There is a long-term contract in place to ensure the demand will be there going forward.

Sunoco's headquarters is based in Philadelphia, Pennsylvania.
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