The Croda Oleochemical site at Bromborough ceased production in October 2009 and was closed by year end as part of its global restructuring programme.
IPP is the world's largest used plant and equipment trader and has headquarters in New Jersey in the United States, and with company owned offices in England, Germany, Italy, India, Russia, Czech Republic, China and Korea.
The purchase includes all the assets of the property comprising 30 acres and about 250,000 square feet of warehousing, offices and laboratory accommodation and all of the remaining plant and equipment, which is available for re-use. The existing production units processed up to 125,000 tonnes of natural oils and fats to produce Fatty Acids, Glycerine and a range of Esters.
IPP's business model is to purchase closed industrial plants globally, take on the site liabilities in selected cases and then utilize the infrastructure on site to repopulate the site with industrial activity. The processes on site will be marketed for operation on site and/or relocated elsewhere in the world.
'Magnified by the current economic conditions, IPP meets a niche that allows a company interested in expanding capacity or entering a new market to do so at a fraction of the cost of building a new facility and in a much shorter time frame' said Tony Field, Managing Director of IPP Europe. 'With 17 complete plant sites globally and over 60 complete processes that we own for resale and an inventory of over 25,000 pieces of process equipment we can provide customers with a turnkey solution in a fraction of the time normally required. This is the third site that IPP owns in the UK, the others were purchased from Kodak in Liverpool and Air Products in Billingham.
IPP will proceed with marketing the development of the land and utilization of the buildings and plant and equipment, which should lead to inward investment and job creation. IPP has already received a number of enquiries for equipment and warehousing.
IPPE website; www.ippe.com
IPP contacts; Tony Field 0151 546 1221 or Tom Nash 01759 306700 (England, UK)