Sunoco to close Texas factory

Sunoco Inc. said today that it will close a factory in Bayport, Texas, that makes polypropylene, a plastic used widely in consumer goods, such as dishwasher-safe food containers.

The plant, which employs about 50, will close no later than April 30, the Philadelphia oil refiner said.

To pay for the closure, Sunoco said, it expected to include a non-cash after-tax charge of $35 million in results for the fourth quarter of 2008. Sunoco, which is undertaking a broad review of its operations to cut costs, said the Bayport plant is no longer financially viable.

The company has other polypropylene plants, in La Porte, Texas; Marcus Hook; and Neal, W.V.

Sunoco's share price was up 2.38 percent (98 cents) to $42.21 in midmorning trading on the New York Stock Exchange.