TPC Group has sold its Baytown Operations to SI Group. The operations include manufacturing assets for nonene, tetramer, and other propylene derivatives, an on-site terminal, and excess land adjacent to the facility. Grace Matthews advised TPC Group on this transaction.
Nonene and tetramer are propylene oligomers used as intermediates in the production of plasticizers, detergents, lube oil additives, antioxidants, and other performance products.
The transaction aligns with TPC Group’s earnings and liquidity improvement plan announced earlier in 2016, an element of which included non-core asset sales.