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Wed June 25, 2014
120 To Lose Jobs When West Lebanon Plant Closes In August
About 120 workers are losing their jobs at the end of August at a New Hampshire manufacturing plant, which makes cameras, microscopes, and other products.
Olympus Biotech in West Lebanon said in March the plant would close if a buyer was not found. Last week, the company said it had exhausted its efforts.
Olympus is providing workers severance benefits and access to outplacement services.
The Valley News reports in December 2010, the company bought the plant, and other equipment related to the making of OP-1, a protein-based putty used to regenerate bones for treating spinal, hip and knee conditions, from Stryker Biotech.
But OP-1 never met the company's expectations. Last year, Olympus began offering the plant for contract manufacturing to help other firms develop biotech products.
Business and Economy