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TPC Group Approves Capital Program to Expand Crude C4 Processing Capacity to Meet Growing Feedstock Supply
HOUSTON, March 19, 2018 (GLOBE NEWSWIRE) -- TPC Group's Board of Directors has approved a plan to expand its Crude C4 processing capacity. There was unanimous support for the Company's 2018 capital program as part of the long range plan to support its continued focus on improving infrastructure, further enhancing reliability, and selectively implementing low-cost debottlenecks.
"With the significant expansions in the U.S. olefins industry, we want to assure our current and future suppliers of Crude C4's that TPC will be a long-term, reliable and cost-effective partner to handle their growing C4 volumes," said John Medico, commercial director for the C4 processing business. "With the substantial growth in North American tire production, we will also provide a growing, cost competitive, domestic source of butadiene for our synthetic rubber customers as well as producers of other butadiene-based derivatives that choose to build or expand capacity in North America."
As part of the Company's long range plan, TPC Group is focused on getting the most out of existing assets and strengthening current capabilities to serve the industry, including processing the increasing C4 supply from both new and expanded ethylene crackers.
"We expect to grow our C4 volumes at more than 8 percent per year through 2022," said Ed Dineen, TPC Group Chairman, President and CEO. "With the support of our board and owners, we will have adequate capacity to support this growth through 2022 and beyond."
TPC Group is a leading producer of value-added products derived from petrochemical raw materials such as C4 hydrocarbons, and provider of critical infrastructure and logistics services along the Gulf Coast region. With revenue of approximately $1.5 billion, 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, with an operating history of over 70 years, TPC Group has manufacturing facilities in the industrial corridor adjacent to the Houston Ship Channel and Port Neches, Texas, and operates a product terminal in Lake Charles, Louisiana.
Andrew Grygiel, Investor Relations
Sara Cronin, Media Relations