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Finance
TPC files for bankruptcy
by Alexander H. Tullo
June 11, 2022
| A version of this story appeared in
Volume 100, Issue 21
After a rough few years, TPC Group has filed for Chapter 11 bankruptcy protection. The company, which processes crude C4 streams into butene and butadiene and makes other C4 derivatives, had an explosion at its Port Neches, Texas, facility in November 2019. It also experienced outages related to severe cold in Texas in early 2021. TPC’s bankruptcy reorganization will resolve its liabilities from the Port Neches incident and will remove $950 million in debt from its balance sheet.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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