HOUSTON and LONDON, March 24, 2015 /PRNewswire/ -- LyondellBasell (NYSE: LYB) announced today plans to expand Tri-ethylene Glycol (TEG) production capacity at the company's existing ethylene oxide and ethylene glycol plant in Pasadena, Texas.
The additional capacity of 50 million pounds per year would more than double the company's current production capacity. Engineering is already underway on the new unit, which is anticipated to be operational in late 2016. It is expected to be one of the world's largest on-purpose TEG production units, meaning the TEG is produced by design and not as a by-product of another manufacturing process.
"The long-term demand for Tri-ethylene Glycol in oil-field, construction and automotive markets in North America, along with the company's feedstock integration to ethylene and ethylene oxide, makes this project a logical extension of our high-value glycol derivative businesses," said Pat Quarles, LyondellBasell executive vice president of Intermediates and Derivatives, Supply Chain and Procurement.
TEG is a colorless, odorless glycol that is used to dehydrate natural gas and as an additive in hydraulic and brake fluids, among other uses. The company's Bayport Underwood plant in Pasadena produces ethylene oxide, ethylene glycol, glycol ethers and other products. Glycol ethers are used to manufacture brake fluid, dyes, paint, solvents, commercial cleaners and waxes, detergents and cosmetic bases. Ethylene glycols are used as intermediate chemicals to produce polyester (PET) fibers, films and bottles.
This press release may contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by LyondellBasell from time to time in its filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. As a result of these factors, among others, actual results may differ materially from those indicated or implied by such forward-looking statements. The statements contained in this release reflect management's good faith beliefs as of the date of the release. Except as required by law, LyondellBasell undertakes no obligation to update any forward-looking or other statements in this release, whether as a result of new information, future events or otherwise.
LyondellBasell (NYSE: LYB) is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 55 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. More information about LyondellBasell can be found at www.lyb.com.
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SOURCE LyondellBasell Industries