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Delta closes on deal for Philly-area refinery

Associated Press Modified: June 22, 2012 at 7:00 pm •  Published: June 22, 2012

PHILADELPHIA (AP) — A Delta Air Lines subsidiary has closed on a deal to purchase a suburban Philadelphia oil refinery so it can produce its own jet fuel.

The company closed on the $180 million purchase of the refinery in Trainer on Friday. A union official says workers are expected to start returning and getting the plant ready next week.

Delta announced in April that it would buy the idled ConocoPhillips refinery in a deal it hoped would cut its jet fuel bill by $300 million a year. Officials have said the refinery is expected to restart in September and that a Delta subsidiary — Monroe Energy LLC — will run it.

Denis Stephano, president of the local steelworkers union, says all of the workers who wanted to return are going back.