Texas Petrochemicals Announces Project to Expand Baytown Operations
HOUSTON (Thursday, June 15, 2006) -- TPC Group, Inc., (the "Company")(OTC: TXPI.PK - News), a Houston-based petrochemical company specializing in C(4) hydrocarbons, today announced the commencement of a major project at its Baytown, Texas operations, which will diversify and strengthen the Company's product portfolio.
When completed, the Company's Baytown Operations will include a twin reactor, world-scale propylene derivatives plant that will produce nonene and propylene tetramer as well as polymer gasoline and propane. The majority of the facility's output is already committed to customers under long-term contracts.
"We are delighted to be expanding our Baytown Operations," stated Charlie Shaver, the Company's President and CEO. "This major investment marks an important step in supporting our customers' needs and expanding our product line."
The project is scheduled for completion in the first quarter of calendar year 2007.
Headquartered in Houston, Texas, TPC Group LP is a premier chemical company with more than $1 billion in annual sales. The Company provides quality C(4) chemical products and services to both local and global industry companies. The Company has manufacturing facilities in the industrial corridor adjacent to the Houston Ship Channel and operates product terminals in Baytown, Texas and Lake Charles, Louisiana. For more information, visit the Company's web site at www.txpetrochem.com.
Cautionary Information Regarding Forward-Looking Statements
Certain oral and written information that the Company may make publicly available from time to time may constitute forward-looking statements. Such statements may relate to future operating results, existing and expected competition, financing and refinancing sources and availability, and plans related to acquisitions or other future expansion activities and capital expenditures. Forward-looking statements involve a number of risks and uncertainties that may significantly affect the Company's liquidity and results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, those related to effects of competition, leverage and debt service, financing and refinancing efforts, litigation and governmental investigations, environmental laws and regulations, general economic conditions and changes in laws or regulations.