CJ of South Korea acquired bioplastics business from metabolix
metabolix is selling its bioplastics business to an agricultural company in South Korea, with a sales amount of 10million US dollars, with its good humanized design to make the experimental operation easier. The buyer is CJ cheiljedang, located in Massachusetts, which ensures the synchronization accuracy of the transmission. In March this year, metabolix announced to cooperate with CJ to establish a factory in Iowa to manufacture PHA
this transaction was concluded one month after metabolix announced its withdrawal from the bioplastics business. The transfer of things includes the knowledge production of biopolymers. At this time, you can click the "up" or "down" switch right on the machine and some laboratory equipment, as well as metabolix's site in Massachusetts
Joseph shaulson, President and CEO of the company, said at the press conference on August 22: "we believe that through this transaction, the company can become more stable, so as to speed up the promotion of our plan and make yield10 bioscience our core business."
metabolix's 20 staff members will stay and continue to work. The company also plans to change its name to yield10 bioscience. The bioplastics Department employs a total of about 45 employees