Skip to content Skip to main navigation Skip to footer

TPC Group Board of Directors Approves Strategic Project for Restart of Dehydrogenation Asset

September 14, 2012 by in Neighborhood News

 

 

With an operating history of more than 68 years, TPC Group is proud to announce another great milestone for our Company.

In 2011, the Company announced its intentions to restart certain dehydrogenation assets at the Company’s Houston Operations upon completion of a detailed engineering study and receipt of a required air permit necessary for the planned refurbishment and upgrade to air emission controls for restart of these assets.

We are pleased to inform you that TPC Group announced its Board of Directors has approved this strategic growth project which will provide TPC with a secure and cost-effective source of isobutylene, a strategic feedstock, to enable profitable growth in our Performance Products and Fuels businesses.  We are proud of this project and the economic investment the Company will make by creating of both temporary contractor jobs during the construction phase, as well as full-time, permanent positions upon completion and start up.

A copy of the press release is also attached.  It is our commitment to be available to you should you have any questions, comments or concerns regarding this project.  In the meantime, we look forward to having an opportunity to visit with you further and provide updates throughout the construction phase.

Sincerely,

Kirk Johnson                                                                 Sara Cronin

Plant Manager                                                               Director, Corporate Communications

713.740.4238                                                                713.475.5243

The document is attached. (16.78 KB)

 

                       Operations Expected to Commence Late Second Half 2014

Producing Isobutylene Feedstock for Performance Products and Fuels Businesses

 

HOUSTON, Sept. 13, 2012 (GLOBE NEWSWIRE) — TPC Group Inc. (Nasdaq:TPCG) today announced the Board of Directors
has approved its strategic project to produce on-purpose isobutylene. The project includes refurbishment and restart of certain
of its dehydrogenation assets at the Company’s Houston Operations. These dehydrogenation assets will serve to provide
isobutylene feedstock for the Company’s performance products and fuels business, including MTBE, polyisobutylene, high
purity isobutylene and diisobutylene.
The construction is scheduled to be complete allowing start-up late in the second half of 2014, and will produce up to 650
million pounds per year of isobutylene from isobutane, a natural gas liquids feedstock whose production volumes continue to
increase as a result of U.S. shale gas development. Total capital expenditure for the project is estimated at $265 million, with
$25 million of that amount already spent to date.
About TPC Group
TPC Group Inc. is a leading producer of value-added products derived from niche petrochemical raw materials such as C4
hydrocarbons. The Company sells its products into a wide range of performance, specialty and intermediate markets, including
synthetic rubber, fuels, lubricant additives, plastics and surfactants. Headquartered in Houston, Texas, and with an operating
history of over 68 years, the Company has manufacturing facilities in the industrial corridor adjacent to the Houston Ship
Channel, Port Neches and Baytown, Texas and operates a product terminal in Lake Charles, Louisiana. For more information,
visit the Company’s website at http://www.tpcgrp.com.
The TPC Group logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9551
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed merger between TPC Group and
Sawgrass Merger Sub Inc. pursuant to the Agreement and Plan of Merger, dated August 24, 2012, among TPC Group,
Sawgrass Holdings Inc. and Sawgrass Merger Sub Inc. TPC Group plans to file a definitive proxy statement with the SEC in
connection with the proposed merger. Investors and security holders of TPC Group are urged to carefully read the
definitive proxy statement when it becomes available because it will contain important information about the
transaction.
A definitive proxy statement will be mailed to TPC Group’s stockholders seeking their approval of the proposed
merger. Investors and security holders may obtain a free copy of the definitive proxy statement when it becomes available, and
other documents filed by TPC Group with the SEC, at the SEC’s website at www.sec.gov. Free copies of the documents filed
with the SEC by TPC Group will be available on TPC Group’s website at http://www.tpcgrp.com under the “Investors” tab, by
directing a request to TPC Group, Attention: Investor Relations, 5151 San Felipe, Suite 800,Houston, Texas 77056, or by
calling (713) 627-7474. Investors may also read and copy any reports, statements and other information filed with the SEC at
the SEC public reference room at 100 F Street N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at (800) 732-
0330 or visit the SEC’s website for further information on its public reference room.
TPC Group and its directors, executive officers and certain members of management and employees may, under the rules of
the SEC, be deemed to be “participants” in the solicitation of proxies in connection with the proposed merger. Information
concerning the interests of the persons who may be participants in the solicitation will be set forth in the definitive proxy
statement (when available). Information concerning beneficial ownership of TPC Group stock by its directors and certain
executive officers is included in its proxy statement relating to its 2012 annual meeting of stockholders filed with the SEC on
April 26, 2012 and subsequent statements of changes in beneficial ownership on file with the SEC.