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It was subsequently purchased by a joint venture of Tenneco and FMC Corporation in 1955, and the joint venture was named Petro-Tex Chemical Corporation, also known as PTC Corporation, until sold to Texas Olefins in 1984. and later Texas Olefins also changed its name to Texas Petrochemicals in 1984. Texas Petrochemicals was acquired by the private equity firm Sterling Group in 1996. In 2003, a collapse of the MTBE market forced Texas Petrochemicals (now employee owned via

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