The sale of the Olds Banner Pharmacaps plant closed on Oct. 31 and the plant’s new owner, Calgary’s Advanced Orthomolecular Research (AOR) began bringing the plant back online on Nov. 4.
The sale of the Olds Banner Pharmacaps plant closed on Oct. 31 and the plant’s new owner, Calgary’s Advanced Orthomolecular Research (AOR) began bringing the plant back online on Nov. 4.
Clark Sayer, AOR’s general manager, said the plant’s new name is Olds Softgels Ltd. and the facility will continue producing nutritional soft gel products.
He added he still did not know how many former Banner employees the plant will retain but the hope is to keep as many Banner workers as possible.
Sayer said AOR will start hiring people this week as production at the plant resumes.
Roughly 105 people worked at the plant prior to the finalization of the sale.
AOR bought the plant from Patheon Inc., a pharmaceutical company headquartered in North Carolina that bought Banner in December for $255 million US.
Patheon did not return calls for comment.
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