SI Group, a leading global developer and manufacturer of chemical intermediates, specialty resins, and solutions, announced the completion of its acquisition of TPC Group’s Baytown, Texas, U.S.A. plant. The purchase price was not disclosed.
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 plant.
“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 SI Group President and CEO Frank Bozich.
“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 plant is the company’s second manufacturing location in Texas. The Baytown assets will complement the capabilities of SI Group’s existing facility in Freeport 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 of Albemarle Corp. in Orangeburg, S.C., in the United States and Jinshan, China.
SI Group’s focus is on 10 key market segments—rubber resins, antioxidants, fuels and lubricants, plastic additives, industrial resins, health & wellness, adhesive resins, surfactants, engineering plastics, and pharma & specialty.
SI Group is a family-owned company headquartered in Schenectady, N.Y., U.S.A. It operates more than 20 manufacturing facilities on five continents with USD1.6 billion in annual sales.