Forbearance agreement
Firstly, the Ad Hoc Group and the fuel products producer agreed to extend the forbearance agreement through and including May 23, 2022.
Secondly, this period will allow TPC Group to continue engaging in constructive discussions with the aim of strengthening the Company’s capital structure.
Also, TPC Group will operate as usual, maintaining its vital focus on EHSS performance, reliable and safe operations; and providing customers and vendors with the highest quality products and services.
TPC Group is a 75-year operating leader in North America; across all its product lines and is the largest independent processor of crude C4.
The company is a recognized global leader in producing value-added products and fuel raw materials such as C4 hydrocarbons.
Furthermore, the group provides critical infrastructure and logistics services to petrochemical operators along the Gulf Coast.
We recommend: FuelCell Energy strengths leadership in combating climate change. Read more.
About TPC Group, fuel products producer
TPC Group is in Houston. It is a 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.
Besides, the Company sells its products into a wide range of performance, specialty and intermediate markets; including synthetic rubber, fuels, lubricant additives, plastics and surfactants.
In addition, the company is leader across its major product lines; which include highly reactive polyisobutylene (HRPIB), butadiene, butene-1, methyl tertiary butyl ether (MTBE) and isobutylene.
Finally, it provides the information the clients need to fulfill its commitment to be good stewards of the processes and products across the product lifecycle.
More information about TPC Group.
