TCI Plastics investing $36 million to increase resin exports from New Orleans

By Frank Esposito
Senior Staff Reporter

Published: April 29, 2014 12:55 pm ET
Updated: April 29, 2014 1:00 pm ET

Related to this story

Topics United States, Pallets/skids/materials handling, Film & Sheet

TCI Plastics will spend $36.5 million to increase resin warehousing capacity and add plastic film production in New Orleans. The project is expected to create 340 permanent jobs.

Plans call for construction of a new 500,000 square-foot building that will allow New Orleans-based TCI to increase the amount of PVC and polyethylene resin it can export. The new structure also will allow TCI to make its own film that will be used to package this resin.

“TCI is ready to play its part in the value-added supply chain needed to keep Louisiana petrochemicals moving through Louisiana ports,” CEO Jack Jensen said in an April 28 news release.

The expansion is part of TCI’s development of a “mega-plastics district” along an inner harbor cargo site between the Mississippi River and Lake Pontchartrain. TCI built a 150,000 square-foot building for resin exports there in 2010. The firm also has leased more than 150,000 square feet of warehouse space in New Orleans to handle growing demand for exported resin.

Numerous resin expansion projects — mainly for PE — have been announced for Louisiana and Texas as a result of low-priced natural gas becoming increasingly available as a feedstock throughout North America.

As part of the expansion, TCI will spend $3.1 million to buy 32 acres of land from the Port of New Orleans. That parcel is near the firm’s existing property. In addition to 160 jobs at TCI, the expansion is expected to create about 180 indirect jobs in the area.

Construction for the new building will begin in mid-2014 and is expected to be completed in the third quarter of 2016. Fifty of the 160 new TCI jobs should be in place by 2015. In the release, Louisiana Gov. Bobby Jindal said that his state “is encouraging the expansion of major logistics facilities.”

TCI is part of Jensen Companies, a New Orleans-based group of several firms owned by Jensen that are focused on transportation, distribution and logistics.


Comments

TCI Plastics investing $36 million to increase resin exports from New Orleans

By Frank Esposito
Senior Staff Reporter

Published: April 29, 2014 12:55 pm ET
Updated: April 29, 2014 1:00 pm ET

Post Your Comments


Back to story


More stories

Image

North American robot sales set record

July 30, 2014 4:46 pm ET

The North American robotics sector is off to its fastest start ever, shattering last year's first-half record, with a first-half 2014 of 14,135...    More

Image

Tessy investing $10 million in new plant, infrastructure

July 30, 2014 4:57 pm ET

Tessy Plastics Corp. continues to buy factory buildings in upstate New York — acquiring a 112,000-square-foot former Honeywell building in...    More

Image

Castle Harlan buys landscape erosion control firm Tensar

July 30, 2014 3:46 pm ET

Private equity group Castle Harlan inc. has acquired Atlanta-based Tensar Corp., with plans for the geosynthetic products maker and its subsidiaries...    More

Image

DC banning PS foam containers

July 30, 2014 2:34 pm ET

Washington D.C. Mayor Vincent Gra signed into law on July 29 a bill that will ban polystyrene foam food and drink containers from the District.    More

Image

Pressure is on to replace aging gas pipes

July 30, 2014 2:47 pm ET

Polyethylene is the plastic replacement material of choice for modernizing the natural gas distribution system — so much so some are concerned a...    More

Market Reports

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events