Pfizer pharma plant to be sold at public auction
Pfizer has ceased operations at its facility in Augusta, Georgia. All equipment from the factory is currently being liquidated and will be sold at a public auction starting in late January 2007.
Pfizer has ceased operations at its facility in Augusta, Georgia. All equipment from the factory is currently being liquidated and will be sold at a public auction starting in late January 2007.
Pfizer has spent around $85.7m in capital improvements over the past five years at the plant. In the last year alone, new equipment and capital improvement costs for the plant were around $25-50m. The facility has complete API production equipment, with a reactor capacity of 29,000 gallons. Much of the equipment in the plant is brand new and was never turned on or certified.
The liquidation will continue until the end of the year. The subsequent auction, conducted by San Francisco auction firm Rabin Worldwide, will be held on site in Georgia and online.