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.