The end for Hi-Tech?

Nac

Nac

Well-known member
Awards
3
  • Established
  • First Up Vote
  • RockStar
Lol its prolly old machinery already upgraded.
 
Danes

Danes

Well-known member
Awards
2
  • RockStar
  • Established
A clever bird twittered in my ear Hi Tech bought out duracaps and are selling their stuff...
 

mike33511

Well-known member
Awards
1
  • Established
They are a huge company that owns many other companies. They are doing just fine.
 
cheftepesh1

cheftepesh1

Well-known member
Awards
4
  • Established
  • First Up Vote
  • RockStar
  • Best Answer
Old equipment of one of the companies the bought probably.
 
DennisTheDane

DennisTheDane

Well-known member
Awards
1
  • Established

Robert5891

Well-known member
Awards
2
  • Established
  • First Up Vote
We're not going anywhere, trust me. Jared had lots of excess equipment that he's getting rid of to make room for some "new toys"!

Stay tuned!
 
DennisTheDane

DennisTheDane

Well-known member
Awards
1
  • Established
Thanks man :) long time no see!
Im still lurking :D Stay tuned..Gonna put up a workout thingy...Im hoping my back allows it next week
 
DennisTheDane

DennisTheDane

Well-known member
Awards
1
  • Established
Danes

Danes

Well-known member
Awards
2
  • RockStar
  • Established
Another bird twittered this :

That may be true but the stuff up for auction is (likely) not from Duracaps.

I also do not believe that Duracaps was ever worth $5mm never mind
$20mm of which Jared would pay $10mm for half of it. I am speculating.

Besides, based on what happened to the Duracap folks any sale would likely
be a fire sale. Speaking of which, does anyone have any info on whether
those guys from Duracap were ever arraigned or what's going on? Is there
still a "case" against them or...well...anyone feel like pulling it down in PACER?

Anyhow...

Most of the stuff in that auction is older stuff for pressing solid dose products
and most of the stuff looks to be busted up pretty badly. Not saying it can not
be fixed but if you look at the low starting bids? They are probably that low for a good reason.

Some of the machines are so old that you'd be hard pressed to find a set
of stock rotary dies "off shelf" for them - you would need a machine shop to
cut a set of 8 or 12 or whatever it is and not from blanks either - likely this would be a full off, custom, CNC effort for upper, lowers and the sides. Not an inexpensive proposition.

I have to admit there are a few really choice pieces in the lot that if I had time?
I'd fly to Norcross to inspect on site and bid on. But most of it - just from
looking at the website - is probably just older equipment Hi Tech had lying
around their facilities that is just sitting and aging.

I suspect - strongly - this is probably just a project for Jared to clean up his
facility, free up and repurpose some space he has where he is storing dated, unused equipment and maybe recover a few extra bucks in the process.

No doubt, if I was looking to start a contract manufacturing facility in dietary
and do so in the cheap - and if I had experience and education rebuilding
and maintaining "dated" equipment, I bet for a quick $50K a motivated,
self starter could pick up a decent blender, a couple of tablet presses
and encapsulators and some fill/bottling lines, etc. I mean, I am confident
that for $50K you could get a tablet and capsule line out of that and make it
work if you want to roll up your sleeves.

You'd have to move them all and of course, spend a heck of a lot of time
going through all of it to see what is repairable and what's gonna be
broken down for "parts" but if you can put in the sweat equity...

There is a contract manufacturer (or was) near me that used to be part of a
multi-national pharma. The pharma decided to close the facility, in this case,
a facility that made generic tablets and capsules and they auctioned the place
off. Building and everything inside. I wish I had known...

The former general manager, head of regulatory and a sales VP started an
LLC, got funding and literally stole that place for a song. I remember
touring it and doing a gap analysis on it - they had like a dozen pilling suites
with all high end Bosch and Elanco and I think Capsugel stuff - top shelf - no
Indian or Chinese rubbish.

I'm guessing new that their equipment before install and validation had
to be $10mm anyhow. Really amazing stuff, they could even do tiny tines
and tablet in a liquid capsules - there might be three facilities in the USA
in/doing dietary that can do all that now.

Anyhow, they picked up all this stuff dime on the dollar. If they only could
get steady business and were reasonable on pricing line time and tolls they
would have killed off anyone and everyone in NY/NJ doing contract solid
dose for our industry for sure. But alas...

There are a lot of used facilities and used equipment auctions in our business
every month. I would not read much into HiTech selling off equipment that,
while in various state of disrepair and age can still be utilized, other than
Jared wanting to free up warehouse space and cash out some old equipment.

I do not think, based on what I have heard, that any of that is Duracap related
stuff. I could be wrong but a few folks who likely would know have told me
what I have written here is what's going on.
 

Similar threads


Top