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Represents a significant move towards revitalizing unused industrial assets and transforming them for the benefit of local communities and their sellers.
Released By International Process Plants
November 22, 2024
North Cedar Crest Redevelopment LLC, an affiliate of International Process Plants and Equipment Corp. (IPP), a global leader in industrial asset and brownfield site repurposing, has acquired GEO Specialty Chemicals’ resin and coatings manufacturing facility in Allentown, Pennsylvania. GEO Specialty Chemicals is a division of CPS Performance Materials. This acquisition brings the total number of operational plant sites globally owned by IPP and its affiliates to 20. Other facility acquisitions this year include the Warwick Chemical Mostyn, Wales, UK site and Novartis’ API manufacturing plant site in Grimbsy, UK. The acquisition also represents a significant move towards revitalizing unused industrial assets, transforming them for the benefit of local communities and their sellers. The Allentown facility, strategically located in Pennsylvania’s Lehigh Valley, manufactured a variety of resins and coatings until ceasing operations in June 2024. The site offers excellent connectivity to major infrastructure networks, making it desirable for diverse manufacturing or logistics operations. Spanning more than 95 acres, the site includes robust chemical production capabilities and a variety of process equipment that can be adapted for multiple industrial applications. Its proximity to logistics hubs, major highways, rail lines and international ports provides logistical advantages for domestic and international distribution. “This acquisition by our affiliate highlights our dedication to acquiring, redeveloping and repurposing idled industrial sites in ways that benefit businesses and communities,” said Ross Gale, Vice President at IPP. “By bringing new investment and job opportunities to the Lehigh Valley, we aim to drive sustainable economic growth in the region while offering prospective manufacturers a well-equipped facility ready for rapid operational integration.” IPP and its affiliated companies have a long-standing reputation for transforming previously idled sites into viable production facilities, thus extending the life cycle of industrial assets and contributing to the circular economy. A winner of various redevelopment awards globally, IPP and its affiliated companies pride themselves on redeveloping industrial properties and communities into new growth platforms. The Allentown facility is available to companies seeking a well-positioned manufacturing or logistics site in a region known for its industrial heritage and access to skilled labor, which is undergoing a post-industrial era renaissance. With IPP’s comprehensive services, including responsible environmental management, redevelopment expertise and asset redeployment, businesses have a streamlined path to begin or expand production and/or distribution in a proven, fully operational environment. Along with the purchase of the Allentown site, a GEO Specialty Chemicals 40-acre brownfield site in Springhill, Louisiana, also was acquired.
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