SI Group, a developer and manufacturer of chemical intermediates, specialty resins, and solutions, has announced the completion of the acquisition of TPC Group’s Baytown, Texas manufacturing facility.
The acquisition includes an on-site terminal and manufacturing assets for nonene, tetramer, and other propylene derivatives. Nonene and tetramer are propylene oligomers, used as intermediates in the production of plasticizers, detergents, lube oil additives, antioxidants, and other performance products. Additionally, SI Group extended offers of employment to all 23 individuals working at the Baytown facility.
“The backward integration into nonene and tetramer aligns with our strategy of intelligent expansion, as it provides us with greater security of supply and reliability for these key raw materials,” said Frank Bozich, SI Group President & CEO. “SI Group is committed to developing innovative chemistry solutions for industry’s complex challenges. The addition of Baytown further enhances our global capability to deliver products that are better able to serve our customers in downstream markets, such as Fuel, Lubricant, and Oilfield additives.”
The Baytown facility is the company’s second manufacturing location in the State of Texas. The Baytown assets will complement the capabilities of SI Group’s existing facility in Freeport, Texas by providing a secure source of raw materials for some of the Freeport plant’s key products.
SI Group’s largest acquisition took place in 2014 when the company purchased the antioxidants, ibuprofen, and related businesses and assets in Orangeburg, South Carolina, United States and Jinshan, China from Albemarle Corporation. SI Group’s focus is on ten key market segments—rubber resins, antioxidants, fuels and lubricants, plastic additives, industrial resins, health & wellness, adhesive resins, surfactants, engineering plastics, and pharma & specialty.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/11102016/si-group-completes-acquisition-of-key-raw-material-facility/