Surprised no one picked this up? Whilst I don't believe it to be...

Surprised no one picked this up?
Whilst I don't believe it to be anything to worry about, I have sent to PB and asked him to clarify to the market what is going on. Need to nip these perceptions in the bud.

For all those complaining about the doctored picture of the plant with the stirling logo, the link below has picture with there actual sign in place, and half a metre of snow.

NORTH SYDNEY ? Concern is mounting regarding the future of Stirling Pharma Inc. in the Northside Business Park.

Topics : Enterprise Cape Breton , Stirling Products , Australia , Canada , North River
When he first heard it was shut down, regional Coun. Gordon MacLeod went to visit the plant.

?When I got there the doors were locked,? he said. ?From my research, the market for the drugs they are to produce is soft right now, and the company is trying to raise money to continue.?

The sale of the former Keata plant to Stirling Products Limited of Australia, which has several companies in Canada, the major one being Stirling Products Canada based in North River, P.E.I., was finalized a year ago.

Keata Pharma had operated the pharmaceutical manufacturing plant in the Northside Business Park since November 2007.

Enterprise Cape Breton Corp. had provided $6.5 million in loans and equity for its $15-million plant, with the promise of creating at least 65 jobs and later expanding to at least 150 workers within the first three years of operation.

Stirling acquired the plant in March 2010 as a result of Keata?s bankruptcy.

Stirling put its successful offer for the former Keata plant through a bankruptcy proceeding and, according to Enterprise Cape Breton Corp., the company is up to date on its monthly payments.

Stirling Pharma?s goal is to manufacture neutraceuticals (a food or food product that provides health and medical benefits) and pharmaceuticals, which are over-the-counter drugs and prescribed medicines that are governed by Heath Canada and have a unique drug identification number.

?I understand they are looking for about $3 million in investments and that is something that is slow going this time of year,? MacLeod said. ?They also produce the type of product that is not recession-proof.?

MacLeod said there is no indication that the plant is closed.

?They haven?t announced anything or said to anyone in the community that they are closed, so this may be temporary,? he said. ?Also, the parent company is located in Australia and this is their summer so many are on vacation. It is similar to July and August in North America; things shut down and you don?t get a lot done during that time.?

Efforts to reach representatives of the North Sydney plant were unsuccessful.


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http://www.capebretonpost.com/Business/2011-02-15/article-2244137/Concerns-growing-over-idle-pharmaceutical-plant/1