METABOLIX: Latest restructuring plan to cost 45 jobs / Biopolymers still up for sale
Metabolix made no mention of what would happen to the non-binding Memorandum of Understanding signed in March of this year with South Korea’s CJ CheilJedang (Seoul; www.cj.co.kr/cj-en/index) for the strategic commercial manufacture of speciality PHAs – see Plasteurope.com of 01.04.2016. Presumably this would fall by the wayside along with any other forward-looking plans including the Yield10 plant biotech programme, for which the company apparently has great hopes.
Additional capital resources are being sought to support the business transition, Metabolix said; however, if this is not successful, it will be forced to close down altogether and liquidate the remaining assets. The company has been struggling financially of late, reporting a loss of nearly USD 24m in 2015, after dropping USD 29.5m in 2014.
