Company Overview of Flint Hills Resources Houston Chemical, LLC
Flint Hills Resources Houston Chemical, LLC owns and operates propane dehydrogenation facility that produces polymer grade and chemical grade propylene from propane in North America. The company offers propylene, hydrogen, and C4 mix/C5+ streams to petrochemical industry. Its propylene is used in the production of paints, coatings, building materials, clothing, automotive parts, packaging, and various other consumer and industrial products. The company was incorporated in 2007 and is based in Houston, Texas. As of July 16, 2014, Flint Hills Resources Houston Chemical, LLC operates as a subsidiary of Flint Hills Resources LLC.
600 Travis Street
Houston, TX 77002
Founded in 2007
Key Executives for Flint Hills Resources Houston Chemical, LLC
President of Petrologistics GP LLC - General Partner and Director of Petrologistics GP LLC - General Partner
Senior Vice President of Commercial for Petrologistics GP LLC
Vice President of Engineering for Petrologistics GP LLC
Compensation as of Fiscal Year 2015.
Flint Hills Resources Houston Chemical, LLC Key Developments
Flint Hills Resources Houston Chemical, LLC and FHR Houston Chemical Finance Corp. Announces Consent Solicitation for 6.25% Senior Notes Due 2020
Oct 7 14
Flint Hills Resources Houston Chemical, LLC announced that it and FHR Houston Chemical Finance Corp. are soliciting consents from holders of the Issuers outstanding 6.25% Senior Notes due 2020 to approve amendments to the indenture governing the Notes. The Proposed Amendments would amend Section 4.03 of the Indenture to replace the requirement that the company file reports with the Securities and Exchange Commission with a requirement that the company provide holders of the Notes with a specified set of information that is more typical of debt securities issued in a Rule 144A-for-life transaction. The Proposed Amendments would also amend Section 5.01(a) of the Indenture to remove the prohibition on the consolidation or merger of Finance Corp. with or into an entity that is not a corporation. The company will make a cash payment of $5.00 per $1,000 in aggregate principal amount of Notes held by each holder of Notes as of the Record Date who has validly delivered its consent prior to the Expiration Time and who has not validly revoked its consent before the earlier of the Effective Time on October 21, 2014, subject to satisfaction or waiver by the company of certain conditions, including receipt of valid consents in respect of a majority in aggregate principal amount of the Notes. The Issuers anticipate that, promptly after receipt of the Requisite Consents and prior to the Expiration Time, the Issuers and Wells Fargo Bank, National Association, as trustee, will execute and deliver a supplemental indenture with respect to the Indenture. The Consent Solicitation will expire on October 21, 2014.
PetroLogistics LP Announces Executive Changes
Jul 16 14
PetroLogistics LP announced that in connection with the Merger, as of the Effective Time, Jaime Buehl-Reichard, Alan E. Goldberg, Lance L. Hirt, Zalmie Jacobs, Phillip D. Kramer, Robert D. Lindsay, David Lumpkins, Nathan Ticatch, John B. Walker, Andrew S. Weinberg and Hallie A. Vanderhider resigned as members of the Board of Directors of General Partner and as members of each committee of the Board of Directors on which they served immediately prior to the Effective Time. In connection with the Merger, as of the Effective Time, David Lumpkins, Nathan Ticatch, Sharon Spurlin and Richard Rice resigned as officers of General Partner. Immediately following the Effective Time, Raffaele G. Fazio was appointed as the sole member of the Board of Directors and President of the General Partner. Mr. Fazio, age 44, is currently the Deputy General Counsel-Corporate and Commercial of Koch Companies Public Sector, LLC.
WeissLaw LLP Announces Class Action Lawsuit Against PetroLogistics, PetroLogistics GP LLC, Propylene Holdings LLC, Flint Hills Resources, LLC and FHR Propylene, LLC on June 20, 2014
Jul 15 14
WeissLaw LLP announced that it filed a class action lawsuit on June 20, 2014, in the U.S. District Court, Southern District of Texas, on behalf of the unit holders of PetroLogistics LP against PetroLogistics, its Board of Directors, its general partner (PetroLogistics GP LLC), Propylene Holdings LLC, Flint Hills Resources, LLC and FHR Propylene, LLC for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 in connection with the proposed acquisition of PetroLogistics by Flint Hill. The complaint arises out of a May 8, 2014 press release in which PetroLogistics and Flint Hills jointly announced that they entered into a definitive merger agreement pursuant to which Flint Hills will pay PetroLogistics' public unit holders $14.00 in cash for each common unit they own. The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated unit holders of PetroLogistics as of May 8, 2014. The named plaintiff is represented by WeissLaw LLP. The named plaintiff alleges that certain of the defendants breached, or aided and abetted the other defendants' breaches of, their fiduciary duties of loyalty and due care owed to PetroLogistics unit holders; and in an attempt to secure unit holder approval of the proposed transaction, the defendants filed a materially false and misleading preliminary proxy statement on Schedule 14A with the SEC in violation of the Exchange Act and their state law fiduciary duties of candor and full disclosure. The omitted and/or misrepresented information is believed to be material to PetroLogistics unit holders' ability to make an informed decision whether to approve the proposed transaction.
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