INTERNATIONAL PROCESS PLANTS ANNOUNCES PURCHASE OF WORLD-CLASS GRIMSBY, UK API PHARMACEUTICAL MANUFACTURING SITE FROM NOVARTIS

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PRINCETON JUNCTION, N.J., May 24, 2022 /PRNewswire/ -- International Process Plants (IPP) announced its subsidiary Humber Industrials Ltd. has reached an agreement to purchase Novartis UK's 170-acre active pharmaceutical ingredient (API) manufacturing plant site and assets in Grimsby, UK.

"We are very excited to transition this fully-integrated API Pharmaceutical site, with its substantial reaction capacity, site infrastructure and attractive location, we are confident in the potential opportunities to redevelop and utilise the campus," said Ronald Gale, CEO of IPP. "With today's on-shoring efforts to eliminate long supply chains and supply insecurity, we are bullish on the future of this well-positioned site. While the specific future use of this site remains to be determined, we are confident that its capabilities and our experience will be a successful combination," added Gale.

The world-class and scale API plant includes 500,000ft² of buildings across three distinct process/manufacturing buildings containing 90 reaction suites totalling 900m³ in capacity, 17 centrifuges, 26 dryer systems, three milling systems, ten solvent recovery systems, modern lab and offices, and a waste-water treatment facility, steam, electric, water, industrial gases, and natural gas connections. Our aim is to attract industries to reutilise these assets both on-site and elsewhere as part of IPP's commitment to reducing carbon emissions and environmental impact through reusing idled assets by repurposing.

"IPP was identified as the best option for the redevelopment of the site due to our experience in similar projects, such as our award-winning redevelopment project in Bromborough, and others in Liverpool and Billingham in the UK. In addition to our UK activities, the IPP Group has been redeveloping industrial sites for over 40 years, with dozens of completed projects in North America and Continental Europe that were all affected by site closures," said Tony Field, Managing Director of IPP Europe. "Each of these redevelopments now represent major time and cost savings to their new operators, while providing employment and economic value to local communities," he added.

Production under Novartis continues until December 2022, and will be handed over to IPP's Humber subsidiary following a wind-down of operations during 2023.

About International Process Plants
Since 1978, the IPP Group has grown to be a leading global facilitator of manufacturing growth and redevelopment opportunities in the pharmaceutical, specialty chemical, fine chemical, industrial chemical, petrochemical, fertilizer, power generation, and polymer industries. IPP enables sustainable industrial growth by deploying pre-existing complete plants, process systems, and process equipment that are immediately available, at a fraction of the cost and delivery time of brand-new assets. It boasts a global portfolio of 15 complete industrial sites for redevelopment, over 110 complete plants and over 15,000 major pieces of equipment and systems. To learn more about IPP, visit www.ippe.com.

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SOURCE International Process Plants