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.
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"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.
Source: International Process Plants
Date: Jan 12, 2022
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