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Akro-Plastic new owner of Metabolix GmbH assets

Bioscience company Metabolix Inc., a manufacturer of polyhydroxyalkanoates (PHA) headquartered in Massachusetts, USA, has completed a sale of substantially all of the assets of its wholly owned German subsidiary, Metabolix GmbH. The new owner is Akro-Plastic GmbH, a manufacturer of engineering plastics compounds with headquarters in Niederzissen, in the Rhineland-Palatinate region of Germany. Under the terms of the deal struck on October 20, 2014, Akro-Plastic has acquired the Mvera product range of biodegradable, compostable film compounds from Metabolix, Inc.

As previously announced, on September 30, 2014 the Board of Directors of Metabolix approved a plan to discontinue the operations of Metabolix GmbH and to pursue a sale of all or part of the operations of Metabolix GmbH. The reason stated was the continuing shift in the company's focus to the commercialization of performance additive solutions based on polyhydroxyalkanoate biopolymers. The purpose of the plan was to simplify the Company's business structure and focus the Company's resources on the success of its core biopolymers business based on PHA performance additives.

Next to acquiring Metabolix's technology for MVERA B5010 and B5011 film products, included in the agreement with Akro-Plastic are certain inventory, certain contracts, and the MVERA trademark. Akro-Plastic has announced that it will continue to market and further develop this product range. The 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.

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