Heritage Global, New Mill acquire pharmaceutical site from Alkem Laboratories

Heritage Global Partners, a subsidiary of Heritage Global Inc., in partnership with New Mill Capital, Federal Equipment Company and Keith Machinery Corp., announced that it has acquired a pharmaceutical plant in Fenton Missouri, formerly owned by Alkem Laboratories. The joint venture plans to find a pharmaceutical user-operator to continue operations at the site and take advantage of the plug and play nature of the offering. The facility was designed to manufacture and package tablets, capsules, semi solids and liquids and is capable of manufacturing and packing 265 million compressed tablets/capsules per annum, 35 million units of semi solids per annum, and 1.3 million liquid units, with stated capacity operating on a single shift.