International Process Plants Acquires High-Purity Gas-To-Liquids Wax Plant
PR94045
PRINCETON JUNCTION, N.J., Jan. 13, 2022 /PRNewswire=KYODO JBN/ --
- IPP Seeks Investors for JV or Takeover
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.
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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.
Media Contact: Customer Contact:
Kath Searle Ross Gale
P: 617.680.2965 P: 609.586.8004
E: KathS@ippe.com E: RossG@ippe.com
SOURCE International Process Plants
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