IPP buys former Croda site
AN American company that specialises in acquiring large industrial sites has bought the former Wirral operation of Goole-based Croda.
International Process Plants and Equipment (IPP) has bought the 30-acre site through a special purpose vehicle, Dibbin Estates and Equipment, for an undisclosed sum.
The Croda Oleochemical site at Bromborough ceased production in October, 2009, and was closed in December as part of its global restructuring programme. In its half-yearly results last month, Croda said the programme would save the company around £5m a year.
IPP, which has its UK headquarters in Billingham, Middlesbrough, handled the deal from its acquisitions office at Pocklington, near York. Two years ago it bought the former Kodak site in Kirkby, Liverpool which is now a business park.
IPP acquisitions director for Europe Tom Nash said the company would sell the plant and machinery and work with developers on a mixed use scheme at the 250,000 sq ft site. It is the third site IPP in the UK, following the Kodak site in Liverpool and Air Products in Billingham.
IPP Europe’s managing director Tony Field said: “IPP will proceed with marketing the development of the land and utilisation 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.”
IPP is regarded as the world’s largest used plant and equipment trader and has its headquarters in New Jersey in the US. It has offices in England, Germany, Italy, India, Russia, Czech Republic, China and Korea.
