OTHER NEWS - Dec. 19, 1991
From Times Staff and Wire Reports
Unocal to Take $57-Million Write-Off: Unocal Corp., which just completed purchase of part of Shell Oil Co.’s Carson refinery, said it expected to take a $57-million after-tax write-down in the fourth quarter, in part to reflect canceled construction projects at Unocal’s own Wilmington refinery that were rendered unnecessary by the purchase. The write-downs include $41 million on the hydrotreater project at Unocal’s refinery. In addition, Unocal will take a $16-million after-tax write-down for nitric acid and urea ammonium nitrate manufacturing plants in West Sacramento.
