IPP seeks investors for joint venture or takeover
PRINCETON JUNCTION, NJ, January 13, 2022 /PRNewswire/ — International Process Plants (IPP) and its subsidiaries today announced the acquisition of Juniper Acquisitions LLC, owner of Juniper Specialty’s commercial-scale, high-purity gas-to-liquid (GTL) wax manufacturing plant. Products at Westlake, Louisiana, North America only commercial-scale GTL wax production facility. The 10-acre rail and truck serviced site, including all intellectual property, is available for purchase, lease, joint venture or licensing.
The plant will convert natural gas into 1,100 barrels/day of high-purity Fischer-Tropsch paraffin waxes used in adhesives, coatings, building materials and consumer goods, including cosmetics, as well as distillates sulfur free light and medium used in transportation fuels and chemical industries.
IPP is part of a global group that acquires chemical, petrochemical, fertilizer, polymer and pharmaceutical assets and manufacturing sites that close with the aim of restarting the assets to manufacture the same product or different products, or to relocate to another economically favorable site while redeveloping the land. IPP is looking for investors to take over or participate in a joint venture to continue the project.
“We are delighted to continue the Westlake GTL wax project. The compelling economics, strong buying market, low CAPEX requirement, attractive margins on high purity GTL wax products, with go-live in just 18 months, make this opportunity a good investment.” , noted Ron Gale, President of the IPP. “The completed project is expected to achieve a three-year return on investment (ROI).”
“With over $400 million invested in the project by a previous owner, this offering represents a unique opportunity to enter the high purity, low carbon footprint GTL wax business by North America at an extraordinarily low cost of capital and faster than any newcomer to the market,” added Gale Ross, vice-president and director of acquisitions at IPP.
About International Processing Plants
Since 1978, IPP has become the world’s leading enabler of manufacturing growth opportunities in the industrial chemicals, specialty chemicals, fine chemicals, petrochemicals, fertilizers, polymers and pharmaceuticals industries. IPP enables sustainable industrial growth by deploying pre-existing, pre-installed assets that are immediately available, at a fraction of the cost and delivery time of new assets. It has a global portfolio of 14 complete industrial sites, more than 110 complete factories and more than 15,000 major equipment and systems. To learn more about the PIP, visit www.ippe.com.
SOURCE International Processing Plants