November 23, 2014 10:54 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Flint Hills Resources, LLC

Company Overview

Flint Hills Resources, LLC, through its subsidiaries, operates as a refining, chemicals, and grain processing company. It produces and markets various petroleum products, including asphalt, Group II base oils, gasoline, jet fuels, diesel, biodiesel, and heating oil; and other value-added fuels, such as cleaner-burning gasoline and performance diesel fuels. The company also offers chemicals and related products, such as aromatics, intermediates and EPS solutions, olefins, and polymers for use in synthetic fibers, agricultural chemicals, packaging, coatings, and appliance and automotive parts. It distributes its products in North America, Central and South America, Europe, Australia, New Zeala...

4111 East 37th Street North

Wichita, KS 67220

United States

Founded in 2002

Phone:

316-828-3477

Key Executives for Flint Hills Resources, LLC

Chief Executive Officer and President
Age: 51
Vice President of Operations
Vice President of Public Affairs and Government Affairs
Director of Public Affairs
Ventures Director
Compensation as of Fiscal Year 2014.

Flint Hills Resources, LLC Key Developments

Flint Hills Resources to Close its Polypropylene Resin Plant in Marysville

Flint Hills Resources will close its polypropylene resin plant in Marysville, Mich., and transfer production to a site in Texas. The closing will take place over the next six months and will eliminate 75 jobs. Affected employees can apply for other open positions with Flint Hills owner Koch Industries. Koch currently has 3,000 open positions.

Potential Buyers Reportedly Check Refineries Of CITGO Petroleum

Potential buyers from at least six leading oil companies have visited refinery in Illinois of CITGO Petroleum Corporation and three firms have shown keen interest in its Texas plant, reported Reuters citing four sources familiar with efforts to sell the assets. It is unclear if CITGO's owner, Petróleos de Venezuela S.A., will go ahead with a sale of its U.S. refining and marketing unit. Both Venezuela's president and finance minister have said in the past month that Citgo's assets would not be sold. But Lazard Ltd, the investment bank hired by CITGO to carry out the sale, is still marketing the refinery, three people told Reuters. The sources familiar with the sale efforts said that visits to the Illinois refinery have been made as recently as this week. Sources told Reuters that teams from the following companies have carried out detailed inspections of the Illinois refinery: Reliance Industries Limited (BSE:500325), PBF Energy Inc. (NYSE:PBF), UTesoro Corporation (NYSE:TSO), Marathon Petroleum Corporation (NYSE:MPC), Valero Energy Corporation (NYSE:VLO) and Phillips 66 (NYSE:PSX). Sources said that Representatives from Phillips 66 visited the Lemont refinery this week. One of the source said, "I don't care what they are saying in Venezuela, potential buyers are still coming in." Gary Heminger, President of Chief Executive Officer of Marathon Petroleum in an interview with Reuters, declined to discuss the CITGO sale, but said the company would carefully weigh refineries on the auction block. Heminger said, "We will always study and do our homework and due diligence on assets that are available." The sources said that the three companies showing the deepest interest in the Corpus Christi refinery are Valero, Flint Hills Resources, LLC and Chevron Corporation (NYSE:CVX). The sources said that Chevron, which was examining reliability records at the Corpus Christi refinery last month, could add a crude distillation unit at Citgo's west plant to run sweet crude from the Eagle Ford oil fields in south Texas while the existing CDU continues to run sour crude oil like that produced by Venezuela. A CITGO spokesman did not respond to Reuters when asked about visits to the refineries made by potential buyers. Marathon, Phillips 66, Tesoro and Valero representatives declined to discuss their companies' possible interest in Citgo's assets. PBF and Reliance did not reply to requests for comment. A Chevron spokesman declined to discuss merger and acquisition activity.

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

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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