SAN FRANCISCO, Nov. 7 /PRNewswire/ -- Pharmaceutical giant Pfizer have ceased operation of their Augusta, GA facility. All equipment from the factory is currently being liquidated and will be sold at a public auction starting in late January, 2007.
Pfizer spent around $85.7 million in Capital Improvements over the past 5 years at the Augusta facility. In the last year alone, new equipment and Capital Improvement costs for the plant were around $25-50 million. The facility has complete Active Product Ingredient (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 new real estate owners, Coastal Xethanol, will produce ethanol bio-fuels on the premises.
The liquidation will continue until the end of the year. The subsequent auction, conducted by San Francisco auction firm Rabin Worldwide, will be held onsite in Georgia and online at http://www.rabin.com . For more information, contact Rabin Worldwide at (800)421-2144 or via email at info@rabin.com.
About Rabin Worldwide
Rabin Worldwide, formerly Rabin Brothers, is an international auctioneer and valuation specialist of industrial plants and equipment. With over 50 years of experience in every sector of the industrial community, Rabin’s signature business is assuming financial positions in the liquidation and/or valuation of complete factories and vehicle fleets. Based in San Francisco, Rabin maintains offices in New York and London, with associate desks in Montreal, Mexico City, Tel Aviv, and Perth, Australia. Rabin enjoys a solid reputation with Asset Based Lenders, Commercial and Investment Banks, Law Firms, and the Fortune 500 companies familiar with their expert services. The Rabin Worldwide Web Site is located at http://www.rabin.com .
Rabin Worldwide
CONTACT: Alan Bank, Advertiser of Rabin Worldwide, +1-415-522-5700, oralan.bank@rabin.com
Web site: http://www.rabin.com//
