Sunoco sells Frankford plant to Honeywell for $85 million

Sunoco will be selling its Frankford phenol and acetone manufacturing plant to Morristown, N.J., based Honeywell.The plant will sell for $85 million and about 162 Sunoco works and several headquarters workers “will being going with the sale,” Sunoco spokesman Thomas Golembeski told Philly.com

Honeywell is a Fortune 100 company that invents and manufactures technology for fields like safety, security and energy. This is the latest industrial-plant sale by Sunoco boss Lynn Elsenhans who is trying to get out of the chemical business and focus on retail gasoline sales and pipelines.