November 22, 2024
Contact:
Kevin Whitmer
kevin.whitmer@northcedarcrest.com
973-951-3916
International Process Plants and Equipment Corp (IPP) Affiliate Acquires GEO Specialty Chemicals Manufacturing Site in Allentown, PA, Expanding Industrial Site Repurposing Efforts
PRINCETON JUNCTION, NJ – North Cedar Crest Redevelopment LLC (NCCR), an affiliate of International Process Plants and Equipment Corp. (IPP), a global leader in industrial asset and brownfield site repurposing, is pleased to announce the acquisition of GEO Specialty Chemicals’ resin and coatings manufacturing facility in Allentown, Pennsylvania. GEO Specialty Chemicals is a division of CPS Performance Materials.
North Cedar Crest site
The acquisition makes 20 complete plant sites that IPP and its affiliates currently own globally and marks another step in breathing new life into idle industrial assets by repurposing them to benefit local communities and sellers.
The Allentown facility, strategically located in Pennsylvania’s Lehigh Valley, manufactured a variety of resins and coatings until ceasing operations in June 2024.
“We chose to partner with International Process Plants’ affiliate NCCR on our exit of the Allentown site due to IPP’s strength and longevity in their responsible, sustainable redeployment of assets and redevelopment of industrial manufacturing sites,” said Jeremy Steinfink, CEO of CPS Performance Materials. “The Allentown site has been a part of the local community for nearly a century, and we believe NCCR/IPP’s mission will bring exciting new opportunities for the site and assets to benefit the community and other industries.”
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 unparalleled logistical advantages for domestic and international distribution, which is crucial in today’s competitive manufacturing environment.
“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, including the 2016 Planning and Placemaking Award for the best brownfield redevelopment in the United Kingdom at the former Croda oleochemical site in Bromborough, England, 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.
About International Process Plants and Equipment Corp. (IPP) and its affiliates
IPP and its affiliates are global leaders in the purchase, sale and redeployment of used and new process manufacturing plants and equipment, boasting operations in 15 countries. The company currently has 20 complete plant sites, 110 complete processes and more than 15,000 pieces of equipment and systems available. The focus industries of IPP and its affiliates include chemical, pharmaceutical, petrochemical, fine/specialty chemical, agrichemical/fertilizers, plastics/polymers, steel, oil/gas, food processing, power generation, paper, and metals processing/refining industries. The IPP affiliates also include Universal Glasteel Equipment (UGE), a glass-lined equipment manufacturer and remanufacturer, and Gale Process Solutions (GPS), a manufacturer of alloy process equipment. IPP is based in Princeton Junction, New Jersey.
- For more information about this opportunity contact Kevin Whitmer at Whitmer@northcedarcrest.com or call 973-951-3916.
- For more information on how IPP can develop custom solutions to meet plant seller needs or learn more about our variety of services and offerings, call 609-586-8004.
- For more about our history or how the IPP family of companies has become the world’s largest seller of used process plants and equipment, visit www.internationalprocessplants.com, galeprocesssolutions.com (new Alloy machinery and equipment) and uge-inc.com (new and used and rebuilt quality glass-lined equipment and parts).
About CPS Performance Materials:
CPS Performance Materials, parent company of GEO Specialty Chemicals, is a diversified specialty chemicals company with businesses serving multiple end markets, including pharmaceuticals, nutrition, medical/eyecare and specialty coatings in a broad range of applications. For more information visit: www.cpsperformancematerials.com.
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