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Deal Includes Manufacturing Assets for Nonene, Tetramer, and other Propylene Derivatives
SCHENECTADY, NY – October 10, 2016 – SI Group, a leading global developer and manufacturer of chemical intermediates, specialty resins, and solutions, announced today 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 (NYSE:ALB). 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.
About SI Group
SI Group is a leading global developer and manufacturer of chemical intermediates, specialty resins, and solutions that are critical to the quality and performance of countless industrial and consumer goods. Founded in 1906 and headquartered in Schenectady, New York, SI Group is a family-owned company with over 2,700 employees worldwide. SI Group operates over 20 manufacturing facilities on five continents with $1.6 billion in annual sales. In 2016, SI Group received a silver award for corporate social responsibility by EcoVadis, and is ranked among the top 13 percent of more than 25,000 worldwide companies. SI Group is The Substance Inside. For more information, visit www.siigroup.com.
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