TPC Group

TPC Group Inc. Announces Partial Redemption of Its 13% Senior Secured Notes Due 2027

Retrieved on: 
Monday, March 25, 2024
TPC Group, TPC, Senior, Share repurchase

HOUSTON, March 25, 2024 (GLOBE NEWSWIRE) -- TPC Group Inc. (TPC) announced today that it will redeem $50 million of its $350 million 13% Senior Secured Notes due December 16, 2027 on March 28, 2024.

Key Points: 
  • HOUSTON, March 25, 2024 (GLOBE NEWSWIRE) -- TPC Group Inc. (TPC) announced today that it will redeem $50 million of its $350 million 13% Senior Secured Notes due December 16, 2027 on March 28, 2024.
  • The redemption price of the notes is 101% of par value, or $50.5 million.
  • In addition to the redemption price, TPC will pay accrued interest to holders of the redeemed notes in the amount of $2,112,500.00.
  • “The redemption of the notes will reduce our interest expense going forward by $6.5 million annually.

TPC Group Promotes John Harvey, III to Senior Vice President, Operations

Retrieved on: 
Monday, January 29, 2024
Senior, Health, Knowledge, Operational excellence, TPC, University, Petroleum, Chemical industry, Safety, TPC Group, Clips4Sale, Renewable energy

HOUSTON, Jan. 29, 2024 (GLOBE NEWSWIRE) -- TPC Group today announced the promotion of John Harvey, III, to Senior Vice President, Operations for the Company.

Key Points: 
  • HOUSTON, Jan. 29, 2024 (GLOBE NEWSWIRE) -- TPC Group today announced the promotion of John Harvey, III, to Senior Vice President, Operations for the Company.
  • Mr. Harvey joined the Company in May 2021 as Plant Manager, Houston Operations.
  • Since his arrival, Mr. Harvey has led significant improvements in the Company’s performance in environmental, health, safety and security, plant reliability and production capacity.
  • He has also set the overall operations strategy that continues to drive Operational Excellence across the organization.

Cargill Announces Retirement of Anna Richo, Corporate Senior Vice President, Chief Legal and Compliance Officer, Corporate Secretary, and General Counsel; Appoints Rishi Varma as Successor

Retrieved on: 
Thursday, January 11, 2024
Retail, Agriculture, Natural Resources, Food, Beverage, Senior, HP Inc., Hewlett-Packard, General counsel, Corporation, Culture, Trico, Georgetown University, Varma, HPE, Intellectual property, Georgetown University Law Center, TPC Group, Retirement, Hewlett Packard Enterprise, Chief, Cargill, Management

Cargill announced today that Rishi Varma has been named Corporate Senior Vice President, Chief Legal and Compliance Officer, and Corporate Secretary, effective January 29, 2024.

Key Points: 
  • Cargill announced today that Rishi Varma has been named Corporate Senior Vice President, Chief Legal and Compliance Officer, and Corporate Secretary, effective January 29, 2024.
  • Varma succeeds Anna Richo, who will transition to Corporate Senior Vice President, Strategic Advisor to the General Counsel and CEO until her retirement in September 2024.
  • Varma joins Cargill from Hewlett Packard Enterprise (HPE), where he serves as Senior Vice President, General Counsel, and Corporate Secretary.
  • While at HPE, he oversaw corporate governance, mergers and acquisitions, commercial contracting, supply chain matters, litigation, intellectual property, and corporate securities.

TPC Group Completes Initial Phase of Di-isobutylene (DIB) Capacity Upgrade Program

Retrieved on: 
Thursday, September 21, 2023
Adhesive, Plastic, DIB, Carbon, Ship, Kigali, Lubricant, C4, Engineering, Kigali Amendment, TPC, United, Antioxidant, TPC Group, Petrochemical

HOUSTON, Sept. 20, 2023 (GLOBE NEWSWIRE) -- TPC Group has announced that it has completed the initial phase of its di-isobutylene (DIB) capacity upgrade to supply the growing global demand for DIB driven by the adoption of low global warming potential refrigerants.

Key Points: 
  • HOUSTON, Sept. 20, 2023 (GLOBE NEWSWIRE) -- TPC Group has announced that it has completed the initial phase of its di-isobutylene (DIB) capacity upgrade to supply the growing global demand for DIB driven by the adoption of low global warming potential refrigerants.
  • DIB is a raw material in the manufacture of components of the lubricants used in these next generation cooling systems.
  • In 2021, the Company commissioned a cross-functional team to identify efficiency improvements and infrastructure upgrades to increase the processing capacity of DIB, a performance chemical manufactured at TPC Group’s integrated production facility in Houston.
  • “TPC is dedicated to supplying our current and future customers what they need and when they need it,” said Randall Redd, vice president, performance products for TPC Group.

TPC Group Appoints New Chief Financial Officer, General Counsel and Additional Members of Senior Leadership Team

Retrieved on: 
Thursday, March 23, 2023
Treasury, Maintenance, Plastic, Vinson, General counsel, Vinson & Elkins, LyondellBasell, Senior counsel, JX, Accounting, PPG Industries, Supply chain, Engineering, TPC, CFO, Polymer, TPC Group, Corporate development, Management

Mr. Valenzuela has held leadership positions at TPC Group for more than 10 years and most recently served as Vice President, Financial Planning & Analysis and Corporate Development.

Key Points: 
  • Mr. Valenzuela has held leadership positions at TPC Group for more than 10 years and most recently served as Vice President, Financial Planning & Analysis and Corporate Development.
  • He will serve on the Senior Leadership Team and oversee the finance, accounting, treasury and investor relations functions, in addition to the internal audit function.
  • As Vice President and General Counsel, he will serve on the Senior Leadership Team and oversee legal, compliance and corporate governance functions.
  • Ms. Burke will serve on the Senior Leadership Team and oversee procurement, planning and optimization, logistics, and supply chain services.

TPC Group Successfully Completes Financial Restructuring

Retrieved on: 
Friday, December 16, 2022
Bankruptcy, Official Committee of Equity Security Holders, P.C, Title 11 of the United States Code, Moelis & Company, Plastic, Gulf Coast of the United States, Unsecured creditor, LLP, TPC Group, Houston Ship Channel, Simpson Thacher & Bartlett, United States bankruptcy court, FTI Consulting, Plan, Tunnell, Accounting, C4

HOUSTON, Dec. 16, 2022 (GLOBE NEWSWIRE) -- TPC Group Inc. (“the Company”), a global leader in providing a diverse range of quality products to chemical and petroleum-based companies worldwide, announced that it has successfully emerged from its restructuring process as a stronger, more competitive business.

Key Points: 
  • HOUSTON, Dec. 16, 2022 (GLOBE NEWSWIRE) -- TPC Group Inc. (“the Company”), a global leader in providing a diverse range of quality products to chemical and petroleum-based companies worldwide, announced that it has successfully emerged from its restructuring process as a stronger, more competitive business.
  • “Today marks a new chapter for our Company,” said TPC Group President & CEO, Ed Dineen.
  • I want to thank our TPC Group employees for their unwavering support throughout this process—their hard work, commitment and dedication is evident and appreciated.
  • The future is bright for TPC Group.

TPC Group Commences Transformational Deleveraging and Recapitalization

Retrieved on: 
Wednesday, June 1, 2022
Eclipse, Storm, United States Bankruptcy Court for the Southern District of New York, Company, TPC Group, Securities Act of 1933, RSA, Bankruptcy, Title 11 of the United States Code, Gulf Coast of the United States, United States bankruptcy court, GLOBE, Houston Ship Channel, COVID-19, February 13–17, 2021 North American winter storm, District, Sponsor, Simpson Thacher & Bartlett, FTI Consulting, Chapter 11, Title 11, United States Code, History, Disclosure, Plastic, Person, Security (finance), Evercore, C4

The Company expects to continue its operations uninterrupted throughout the process.

Key Points: 
  • The Company expects to continue its operations uninterrupted throughout the process.
  • Over the past several years, TPC Group has positioned our business as a critical partner and player in the petrochemical industry.
  • The Company is advised in this process by Baker Botts L.L.P., Simpson Thacher & Bartlett LLP, Moelis & Company LLC, and FTI Consulting.
  • With an operating history of more than 75 years, TPC Group has a manufacturing facility in the industrial corridor adjacent to the Houston Ship Channel and operates product terminals in Port Neches, Texas and Lake Charles, Louisiana.

TPC Group Announces Extension to Forbearance Agreement

Retrieved on: 
Monday, May 23, 2022
TPC Group, Company, Simpson Thacher & Bartlett, Gulf Coast of the United States, Failure, Houston Ship Channel, FTI Consulting, Plastic, GLOBE, C4

The Ad Hoc Group and the Company have agreed to extend the forbearance agreement through June 1, 2022.

Key Points: 
  • The Ad Hoc Group and the Company have agreed to extend the forbearance agreement through June 1, 2022.
  • This additional period will allow TPC Group to continue engaging in constructive discussions with the aim of strengthening the Companys capital structure and positioning the Company to be a stronger, more competitive business.
  • TPC Group is a recognized global leader in producing value-added products and raw materials such as C4 hydrocarbons.
  • Furthermore, TPC Group provides critical infrastructure and logistics services to petrochemical operators along the Gulf Coast.

TPC Group Announces First Quarter 2022 Financial Results to be Reported Thursday, May 12, 2022

Retrieved on: 
Thursday, April 28, 2022
Company, GLOBE, Plastic, Houston Ship Channel, TPC, Gulf Coast of the United States, TPC Group, Financial result, Security (finance), Petrochemical, C4

HOUSTON, April 28, 2022 (GLOBE NEWSWIRE) -- TPC Group Inc. today announced that it would post its results for the quarter ended March 31, 2022 on the investor portal of its website on Thursday, May 12 at 1 p.m.

Key Points: 
  • HOUSTON, April 28, 2022 (GLOBE NEWSWIRE) -- TPC Group Inc. today announced that it would post its results for the quarter ended March 31, 2022 on the investor portal of its website on Thursday, May 12 at 1 p.m.
  • As a result of the ongoing and productive discussions TPC Group is having with its financial stakeholders to strengthen the Companys financial structure for the long term, TPC Group will not be holding a live or recorded investor call for the release of the Companys first quarter 2022 financial results.
  • Financial results will be available to current noteholders and prospective investors who register on the Investor section of TPC Groups website: https://www.tpcgrp.com/investors.
  • TPC Group, headquartered in Houston, is a leading producer of value-added products derived from petrochemical raw materials such as C4 hydrocarbons, and provider of critical infrastructure and logistics services along the Gulf Coast.

Global Polyisobutylene (Conventional/Highly Reactive) Markets, 2021-2028: Growing Demand for Polyisobutylene in the Food Industry & Growing Demand for PIB From Developed and Developing Economies - ResearchAndMarkets.com

Retrieved on: 
Tuesday, April 19, 2022
Chemicals, Plastics, Manufacturing, TPC Group, Convention (norm), Adhesive, COVID-19, CAGR, Urbanization, BASF, Basketball, Growth, Molecular mass, Construction, PIB, BASF SE, Lubricant, SE, Maintenance, Industry, TPC, Synthetic rubber

PIB in the form of polyisobutylene succinimide is used in additives in lubricating oils and motor fuels.

Key Points: 
  • PIB in the form of polyisobutylene succinimide is used in additives in lubricating oils and motor fuels.
  • It is also used as adhesive in packaging, in tire making in the automotive industry, and in electrical fluids.
  • Based on application, the global polyisobutylene market is segmented into tires, industrial lubes and lube additives, fuel additives, adhesives and sealants, and others.
  • Players operating in the market are highly focused on developing high-quality and innovative product offerings to meet the customer's requirements.