Polioli SpA was a major Italian producer of formaldehyde and had developed a highly efficient and reliable production process over more than 45 years of operation.
In 1987, Polioli constructed a 60,000 metric ton-per-year formaldehyde plant designed to produce a 37 wt.% formaldehyde solution with residual methanol of 0.5–1.0 wt.% and formic acid below 200 ppm. The plant’s reactors were upgraded in 1991.
After Polioli constructed a larger formaldehyde facility, the 60,000 TPY plant was shut down in 2012 and became available for sale and relocation.
Phoenix’s Turnkey Solution
Phoenix purchased the complete formaldehyde plant, providing Polioli with a clear transaction structure and a single party responsible for the sale and removal of the assets.
Phoenix then marketed the plant internationally and identified a qualified buyer in Asia seeking to acquire established formaldehyde production capacity at a lower cost and on a shorter schedule than building a new facility.
The sale included the plant’s major equipment, piping, instrumentation, controls, and technical documentation.
Documentation and Engineering Support
One of the primary project challenges was that more than 400 original technical documents were available only as Italian-language hard copies.
Phoenix engaged an experienced process specialist to translate the complete documentation package into English and convert the documents into an organized electronic format.
Phoenix also provided a complete 3D laser scan of the facility to support engineering, reinstallation, and future plant modifications.
Dismantlement and Relocation
Phoenix managed the complete relocation process, including:
- Equipment match-marking and documentation
- Plant dismantlement
- Export-grade seaworthy packing
- Container and break-bulk loading
- Inland transportation
- International ocean freight
- Delivery to the buyer’s destination
The final shipment consisted of 15 professionally packed 40-foot ocean containers and five large break-bulk items, with a total shipment weight of approximately 300,000 kilograms.
Phoenix completed the dismantlement and delivery within six months of receiving the customer’s order.
Customer Benefits
For the seller, Phoenix provided a turnkey sale and removal solution that recovered value from an idle facility, reduced execution risk, and eliminated the need to manage multiple contractors, buyers, and logistics providers.
For the buyer, the transaction provided access to a proven 60,000 TPY formaldehyde plant significantly faster and at a lower capital cost than designing and constructing a new facility.
Phoenix also helped the buyer secure engineering services for plant upgrades, supervision during reinstallation, commissioning guidance, and a process performance guarantee.
Through Phoenix’s acquisition, international marketing, dismantlement, and relocation capabilities, an idle European production facility was successfully preserved and placed back into productive use in Asia.