Indianapolis-based Calumet Specialty Products Partners has completed the sale of its Superior Refinery in Wisconsin to Husky Energy Inc. in Canada. The company says the $492 million deal will move Calumet closer "to its vision to become the premier specialty petroleum products company."
Calumet received $435 million for the sale of the refinery, plus an additional $57 million for net working capital, inventories, and reimbursement of certain capital spending.
The sale was first announced in August. Calumet said at that time Husky planned to make capital investments at the facility and retain 180 employees.
Calumet plans to provide more information on the sale Friday during a conference call with investors related to the company’s third quarter earnings report.