Eneos Holdings, headquartered in Japan, has agreed to acquire U.S.-based TPC Group, adding the company's Gulf Coast petrochemical manufacturing and terminal operations to its global C4 chemicals business.

Under the agreement, expected to close in October pending regulatory approvals, Eneos will acquire TPC's petrochemical operations in Houston, along with terminal facilities in Port Neches, Texas, and Lake Charles, Louisiana. The companies said the transaction is intended to strengthen Eneos' position in the C4 value chain while supporting continued investment in TPC's manufacturing assets.

According to Eneos, the acquisition will give the company the world's third-largest butadiene production capacity. TPC is one of North America's largest producers of C4 chemicals, including butadiene, raffinate, 1-butene and polybutene.

The companies said combining Eneos' experience operating C4 chemical assets with TPC's Gulf Coast manufacturing platform is intended to strengthen supply capabilities and improve responsiveness to changing market demand. Eneos also expects the acquisition to create closer integration between its C4 chemicals operations and downstream elastomer businesses, including production of solution-polymerized styrene-butadiene rubber.

"This announcement is a strong endorsement of TPC Group's people, assets and capabilities, as well as the important role we play in the petrochemical value chain," Ed Dineen, president and CEO of TPC Group, said in a statement. "With Eneos, we will build on our strong foundation, support continued investment in our operations and further strengthen TPC Group's position for long-term success."

TPC said there are no planned changes to day-to-day operations, customer commitments or supplier relationships before the transaction closes. The company also said its environmental, health, safety and security programs will continue unchanged during the transition.

According to Eneos, the acquisition supports its strategy of expanding its materials business in North America, where access to shale-based feedstocks and growing demand offer long-term opportunities for C4 chemicals production. The company said strengthening its U.S. manufacturing base also will help address tightening butadiene supply-demand dynamics in Asia while reinforcing its global supply chain for elastomer production.