Tosco Corp.: The Santa Monica firm reported...
From Times Staff and Wire Reports
Tosco Corp.: The Santa Monica firm reported a first-quarter net loss of $7 million, compared to a loss of $8 million a year ago. Revenue doubled to $477 million. The company is a large independent oil refiner and manufacturer and distributor of phosphate-based fertilizer products. Results included a loss of $9.4 million for Seminole Fertilizer Corp. and weak margins in its petroleum refining and fertilizer production operations. Tosco also said it has terminated efforts to sell the corporation or its refining business but is continuing sale talks for its fertilizer unit.
Tables, D16
