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TPC Group Commences Engineering to Expand Polyisobutylene Capacity
HOUSTON, Feb. 7, 2013 (GLOBE NEWSWIRE) -- TPC Group Inc. (TPC), a leading fee-based processor and service provider of value-added products derived from niche petrochemical raw materials, announced today that it has commenced engineering to expand production capacity of polyisobutylene (PIB) to meet its customers' needs.
TPC uses proprietary technology to produce both highly reactive PIB (HR-PIB) products, which are used in lubricant and fuel additives, and PIB products for conventional applications such as adhesives, caulks, sealants, and coatings. TPC technology is unique in that it can produce both types of products in a wide range of molecular weights within the same unit, which offers the Company an unrivaled ability to meet the needs of a growing market.
The need for a capacity expansion is driven by the growing demand for HR-PIB due to upcoming changes in the technical standards for lubricating oils that favor use of HR-PIB based dispersants, as well as an increasing demand for the wide variety of other end uses, including automotive sealants and industrial lubricants. TPC has commenced engineering to expand the Company's existing capacity to meet this growing need.
"TPC Group is committed to maintaining its position as the premier supplier of PIB in North America," said President and CEO Michael McDonnell. "As the leading merchant producer of PIB, we are focused on meeting the needs of our customers for high quality products delivered through our extensive logistics network. We back our commitment to our customers with the security of multiple production units and multiple sources of feedstock supply, including our own isobutylene production unit targeted for startup in 2014."
TPC Group first entered the PIB market in May 2000 with the startup of its patented process to produce a wide range of PIB products. Since that time, the company has grown significantly through multiple expansions to become the largest producer in North America. TPC supplies the market from its Houston production facility as well as product terminals in Houston and near Chicago, IL.
About TPC Group
TPC Group Inc. is a leading producer of value-added products derived from niche petrochemical raw materials such as C4 hydrocarbons, and provider of critical infrastructure and logistics services along the Gulf Coast region. TPC Group 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 68 years, TPC Group 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.
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CONTACT: Sara Cronin 713.627.7474