US PHA producer rejects merger proposal, opts to wind down biopolymers biooperations
Metabolix, Inc. (Woburn, Mass.) has announced that it is implementing a strategic restructuring under which Yield10 Bioscience will become its core business. Consistent with its new strategy, the Company plans to rebrand itself as Yield10 Bioscience in the coming months.
As part of the restructuring, Metabolix will eliminate approximately 45 positions in its biopolymer operations and corporate organization, and will pursue the sale of its biopolymers business assets. The immediate reduction in personnel represents approximately 50% of the Company’s current workforce. The company will continue operations with a staff of approximately 20 people, comprised of the Yield10 crop science team together with a small group of administrative personnel.
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