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Sunoco Completes Ethanol Plant Purchase

The Associated Press

PHILADELPHIA (AP) — Oil refiner Sunoco Inc. on Monday said it completed buying an ethanol plant for $8.5 million.

The plant can make up to 100 million gallons of ethanol per year.

Sunoco said the plant is the largest ethanol manufacturing facility in the Northeast. When running at full capacity, the plant is expected to supply approximately 25 percent of Sunoco's ethanol need.

Sunoco is based in Philadelphia. Shares fell 27 cents to $26.16 in afternoon trading amid a broad market decline.