24. Oct 2014
AKRO-PLASTIC acquires all assets Metabolix German subsidiary
On October 20, 2014, Metabolix, Inc. completed a sale of substantially all of the assets of its wholly-owned German subsidiary, Metabolix GmbH, to AKRO-PLASTIC GmbH, a manufacturer of engineering plastics compounds with headquarters in Niederzissen, in the Rhineland-Palatinate region of Germany.
Under the deal, AKRO-PLASTIC will acquire a product range of biodegradable, compostable compounds from Metabolix, Inc., a manufacturer of polyhydroxyalkanoates (PHA).
As previously announced, on September 30, 2014 Metabolix' Board of Directors approved a plan to discontinue the operations of Metabolix GmbH and pursue a sale of all or part of the operations of Metabolix GmbH in connection with the continuing shift in the Company’s focus to commercializing performance additive solutions based on polyhydroxyalkanoate biopolymers. The purpose of the plan is to simplify the company’s business structure and focus its resources on the success of its core biopolymers business based on PHA performance additives.
Specifically, AKRO-PLASTIC has acquired the Company’s technology for MVERA B5010 and B5011 products, as well as certain inventory, certain contracts, and the MVERA trademark. The product range will henceforth be marketed and further developed by AKRO-PLASTIC. This company will also take over Metabolix GmbH employees and office space. Security of supply for customers and the transfer of all required technologies and IP to AKRO-PLASTIC have been mutually assured through contract negotiations. Moreover, the two companies intend to continue working together in future in the area of PHA products and blends. The winding down of the remaining activities of Metabolix GmbH is expected to be completed by the end of 2014.(KL)
http://www.akro-plastic.com