Trecora Resources Initiates Production at Recently Acquired BASF Plant
SUGAR LAND, Texas, June 2, 2016 /PRNewswire/ -- Trecora Resources (NYSE: TREC), a leading provider of high purity specialty hydrocarbons and waxes, announced today that it has initiated production at the recently acquired BASF plant adjacent to Trecora Chemical (TC) in Pasadena, Texas. The first production run is a new high purity specialty wax product that could not be handled at TC due to capacity constraints.
Dr. Peter Loggenberg, President of Trecora Chemical, commented, "The BASF facility, which we refer to as 'B Plant,' is being integrated with our TC facility, and we are pleased to be generating revenue within just a few weeks of the acquisition. With B Plant online, we are reviewing several projects that could drive additional revenue this year for TC while also gaining significant operating efficiencies."
B Plant includes production equipment that is similar to TC's plus equipment that broadens TC's capabilities and potential markets. The 6.5-acre site also includes substantial storage capacity, several rail and truck loading sites and utility tie-ins to TC.
About Trecora Resources (TREC)
TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high purity hydrocarbons and other petrochemical manufacturing. TREC also owns and operates a leading manufacturer of specialty polyethylene waxes and provider of custom processing services located in the heart of the Petrochemical complex in Pasadena, Texas. In addition, the Company is the original developer and a 35% owner of Al Masane Al Kobra Mining Co., a Saudi Arabian joint stock company.
Statements in this press release that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon our belief, as well as, assumptions made by and information currently available to us. Because such statements are based upon expectations as to future economic performance and are not statements of fact, actual results may differ from those projected. These risks, as well as others, are discussed in greater detail in Trecora Resources' filings with the Securities and Exchange Commission, including Trecora Resources' Annual Report on Form 10-K for the year ended December 31, 2015, and the Company's subsequent Quarterly Reports on Form 10-Q. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release.
Investor Relations Contact:
The Piacente Group
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SOURCE Trecora Resources