PharmaChem is expanding

By -





Well... there is quite a bit going on in Grand Bahama and many announcements being made.

 Last week there were several announcements but today we will talk about PharmaChem.

 According to their release, "this new state-of-the-art facility, supported by Gilead Sciences Inc., will provide life saving drugs.

 The site on West Sunrise Highway was acquired by Mr. Pietro Stefanutti in 2002, and during the ground breaking he said the time has come to take another step ensuring that PharmaChem is a viable and sustainable operation for years to come.

 This expansion is said to be costing $130m, and also it is expected to generate an economic impact on Grand Bahama's economy of about $40-$50 million resulting in over 100 contractors being employed on the project.

 In an overview of the partnership with Gilead Sciences, Stefanutti said that in 2003, a non disclosing agreement was signed between the companies to determine to path for the manufacturing of an HIV compound on the island.

 "After a fairly busy six months" he continued. "PharmChem closed the asset purchase agreement with Honeywell in September 2003. This was possible for the close working relationship and cooperation with the government of The Bahamas, the Grand Bahama Port Authority, Gilead, Honeywell and PharmaChem.

 "Thirteen years after, the time has come again to take another step in ensuring that PharmaChem is a viable and sustainable operation in Freeport for years to come. Today, we are breaking ground on a new state of the art multi-tronic facility that will support Gilead's growing pipeline of life saving drugs. It has been jointly designed by both Gilead and PharmaChem, and is a testament of the strong relationship that we have with Gilead and all others within their management.

 "I am very proud of the trust that has been bestowed upon PharmaChem by Gilead and I am also well aware of the responsibility that comes with that trust. I will sincerely like to thank the senior management of Gilead, present here today, as well as all the Gilead employees who have spend numerous hours in supporting us with getting the site started and performing well."

 Of course for Grand Bahama what this really means for the small man is that there are job opportunities coming and there have been advertisements already places to begin the process a few weeks ago.

 Thursdays ground breaking says .. we have opportunities coming. That means off shoot companies are also being considered. Just find a gap in the flow of business and fill it.

Comments

Post a Comment

Popular posts from this blog

Freeport in the 70's and 80's.

By -
Image
In a recent discussion with an acquaintance who is a long time resident of Grand Bahama, he said he hopes Freeport turns around to which I quickly reminded him of the days when we thought Freeport was going down. After the rush of the 50's and the 60s that ushered in a lot of constructions and the building of Freeport which pushed the natives to the outer areas, there came the 70s and the smaller investors leaving quickly. However, in the late 70s and early 80s there was still a lot of activity here. There were over ten big hotels on the island and two casinos. Also there was Sir Laker who came in to add Laker Airways to the airlift to this island. The industrial side was holding its own but things were beginning to taper off. Around this time there were calls of a diversification of industries in the country and to stop relying only on Tourism. Some complaints were flying that there were too many foreign croupiers and well qualified Bahamians who could do that same job Th
Read more

"Bend or Break speech"

By -
Image
"Bend or Break speech" On July 26, 1969, Sir Lynden O. Pinding, then Premier of The Bahamas, delivered this speech during an inspection tour at the official opening ceremony for the new Bahamas Oil Refinery Company (BORCO). This speech in history has been called the "Bend or Break Speech" and has long be said by officials in Grand Bahama to be the reason the lights went out at the "Magical Fair" that was the spark called Freeport. Here is the entire speech: “I am certainly delighted to be here this morning because what I see beginning on this site is not only the erection of an oil refinery but also the real true birth of a petro-chemical industry in the Commonwealth of The Bahamas Islands. I am delighted to be here because, if the industry develops as the proprietors hope it will be and I hope it will, not only will The Bahamas be able to meet from within its shores its own presently small needs of kerosene, gasoline, diesel and oth
Read more

A pictorial look at Freeport 1950-1960s

By -
Image
Before hitting the great days of the 70s and 80s I found these photos of Freeport on Oldbahamas.com and thought to share them. Remember that unlike Nassau, New Providence, Freeport, Grand Bahama did not have the history. What history we have now is the growing up of Freeport and the entire island due to the formation of the Hawksbill Creek Agreement,  the Grand Bahama Port Authority and the Grand Bahama Development Company. A boom of energy and a vision that was all set, but later side tracked by the thought of sharing the profits was what we were left with and little though of how to recover and move on with proper legislation to assist all. Next week we look at the promises fulfilled by the G.B. Port Authority. Thanks again to Oldbahama.com. If you want copies of these photos just contact them for reprints.
Read more