IPP Seeks Investors for JV or Takeover
PRINCETON JUNCTION, N.J., Jan. 12, 2022 /PRNewswire/ — International Process Plants (IPP) and its affiliates announced today the acquisition of Juniper Acquisitions LLC, owner of the Juniper Specialty Products commercial-scale high-purity gas-to-liquids (GTL) wax manufacturing plant in Westlake, Louisiana, North America’s only commercial-scale GTL wax production facility. The 10-acre rail and truck-served 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 paraffinic waxes used in adhesives, coatings, construction materials, and consumer goods including cosmetics, as well as zero-sulfur light and middle distillates used in transportation fuels and chemicals industries.
IPP is part of a global group that acquires chemical, petrochemical, fertilizer, polymer, and pharmaceutical assets and manufacturing sites that are closing for the purpose of restarting the assets to manufacture the same or different products, or relocation to another site with favorable economics while redeveloping the land. IPP seeks investors to take over or participate in a joint venture to continue the project.
“We are very excited to continue the Westlake GTL wax project. The compelling economics, strong offtake market, low CAPEX requirement, attractive margins on high-purity GTL wax products, with commissioning only 18-months away makes this opportunity ripe for investment,” said Ron Gale, President of IPP. “The completed project is forecasted to achieve a three-year return-on-investment (ROI).”
“With over $400M invested in the project by prior ownership, this offering represents a unique opportunity to enter the high-purity, low carbon footprint GTL wax business in North America at an extraordinarily low capital cost, and faster than any greenfield market entrant,” added Ross Gale, Vice President and Director of Acquisitions at IPP.
About International Process Plants
Since 1978, IPP has grown to be the leading global facilitator of manufacturing growth opportunities in the industrial chemical, specialty chemical, fine chemical, petrochemical, fertilizer, polymer, and pharmaceutical industries. IPP enables sustainable industrial growth by deploying pre-existing and pre-installed assets that are immediately available, at a fraction of the cost and delivery time of brand-new assets. It boasts a global portfolio of 14 complete industrial sites, over 110 complete plants and over 15,000 major pieces of equipment and systems. To learn more about IPP, visit www.ippe.com.