Suburban Propane Sells Tirzah Underground Propane Storage Cavern and Pipeline

Suburban Propane's operating subsidiary completed the sale of its Tirzah, South Carolina underground granite propane storage cavern and associated 62-mile pipeline for approximately $54.0 million in net proceeds. A gain of approximately $43.7 million will be reported in discontinued operations in Q1 fiscal 2008.

“On October 2, 2007, the Partnership announced that its operating subsidiary, Suburban Propane, L.P., completed the previously announced sale of its Tirzah, South Carolina underground granite propane storage cavern, and associated 62-mile pipeline, for approximately $54.0 million in net proceeds.”

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