TPC Group board approves capital to advance engineering of butadiene production

TPC Group Inc. (TPC), a leading fee-based processor and service provider of value-added products derived from niche petrochemical raw materials, announced that the Board of Directors has approved capital for the next phase of engineering to produce on-purpose butadiene and expand production capacity to meet market demand and customer needs. This approval follows the successful completion of the project's preliminary engineering study to produce butadiene from a variety of sources. The U.S. shale gas development offers an abundance of natural gas liquids for feedstocks to produce butadiene. It has also had an impact on by-product butadiene production, creating a shortage of butadiene to meet customer needs. TPC Group anticipates that its engineering design optimization will be complete by the end of the third quarter of 2013. "TPC Group is committed to maintaining its position as the leading supplier of butadiene in North America," said President and CEO Michael McDonnell. "As the leading independent marketer of butadiene, we are focused on meeting our customers' needs for high quality products, delivered through our extensive aggregation and logistics network. The commitment we make to our customers is backed by the security of having multiple production units and multiple sources of feedstock supply, including our plans to add our own on-purpose butadiene production unit targeted for startup in 2016."
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