International Process Plants buys GTL wax manufacturing plant in Westlake
International Process Plants (IPP) alongside its affiliates has acquired Juniper Acquisitions, the owner of the Juniper Specialty Products gas-to-liquids (GTL) wax manufacturing plant in Westlake, Louisiana.
The financial terms of the deal were not disclosed.
The rail and truck-served site, which is spread over 10 acres, includes all intellectual property. It is available for lease, purchase, licensing, or joint-venture.
The GTL wax manufacturing plant is capable of converting natural gas into 1,100 barrels/day of Fischer-Tropsch paraffinic waxes, which are used in adhesives, construction materials, coatings, and consumer goods.
Ron Gale — President of International Process Plants said: “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.
“The completed project is forecasted to achieve a three-year return-on-investment (ROI).”
International Process Plants is part of an international group that acquires chemical, petrochemical, polymer, fertilizer, and pharmaceutical assets and manufacturing sites that are closing for the sale of restarting the assets to manufacture the same or different products, or shifting to another location with favorable economics while redeveloping the land.
Ross Gale — International Process Plants Vice President and Director of Acquisitions said: “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.”