CPD: Rehiring in full force
A recent article on Caraco about its rehiring and plan to restart production.
Fifty to 100 employees who were laid off last June by Caraco Pharmaceutical Laboratories Ltd. have been rehired to help the Detroit-based generic drug maker work on a remediation plan intended to get the plant back into production this year, Caraco officials told Crain’s last week.
The number of employees that CPD is rehiring is a clear sign that management believes it is very close to restarting production.
“We are hopeful we can reopen this year,” he said [Andrew Bos, Caraco’s in-house counsel].
CPD has never publicly stated when they would restart production but recently the company has been making comments, like this one, about restarting before the end of this year.
I feel extremely bullish about CPD and their plan to restart production. I believe the shares at current prices are extremely cheap, with a huge upside in a short period (less than 6 months).
To access the article, click here and then follow the second link (“Caraco rehiring as it works to reopen Detroit plant”)