Humber Industrials Ltd., a subsidiary of International Process Plants (IPP), has reached a purchase agreement with Novartis UK to purchase its plant site and all its assets in Grimsby, UK.
According to a press release, the plant site consists of 500,000 square feet of space across three processing and manufacturing buildings, reaction suites, centrifuges, dryer systems, milling systems, solvent recovery systems, a waste-water treatment facility and various offices.
"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 utilize the campus," CEO of IPP Ronald Gale said, according to the press release. "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."
Managing director of IPP Europe Tony Field said IPP Group has been redeveloping industrial sites for over 40 years, with dozens of completed projects in North America and Continental 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," Field said, according to the press release.
Novartis will continue production at the site until December 2022, when ownership will be handed over to Humber Industrials Ltd.