Texas Petrochemicals L.P.

Exporter
5151 San Felipe, Ste. 800, Houston, TX 77056-3627, United States
(713)627-7474, (713)626-3650 fax, http://www.txpetrochem.com

Primary SIC: Chemicals & Chemical Preps, Not Elsewhere Classified, Primary NAICS: All Other Miscellaneous Chemical Product Manufacturing
Description: Manufacturing: Chemicals, including hydrocarbons, diisobutylene and isobutylene.Texas Petrochemicals is one of the foremost suppliers of butadiene, butene-1, high-purity isobutylene, diisobutylene, and isobutylene concentrate in the US. Its chemicals are used in the manufacture of synthetic rubber and alcohol, plastic resins, and lubricants. The company is also one of North America's largest makers of MTBE, an emission-reducing octane-booster. One of the major issues currently facing Texas Petrochemicals is the possible effect of MTBE on health and environment. This concern has become a statewide concern due to the fact that it has appeared in drinking water wells in the state of California. In September 1999, the Chemical Manufacturers Association recognized Texas Petrochemicals as one of eight chemical companies for their energy efficiency projects. Texas Petrochemicals' primary revenues are derived from merchant market sales of butadiene, MTBE, n-butylenes, and specialty isobytylenes. Factors such as market demand, production volumes, pricing of products and primary raw materials have an affect on the results of their operations. For the three months ended September 30, 1999, Texas Petrochemical's revenues increased by 54% or $154.0 million as compared to $100.0 million reported for the first three months of September 30, 1998. Gross profits also increased to $16.0 million in 1999 from $12.0 million reported in 1998. Income from operations revealed $14.0 million for the third quarter in 1999 as compared to $9.7 million for the same time period in 1998. Top competitors include Englehard, Exxon Chemical, and Lyondell Chemical.