ADM end commercial alliance with Metabolix
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ADM to end commercial alliance with Metabolix

8:27 PM, 12th January 2012
ADM to end commercial alliance with Metabolix

DECATUR, US: Archer Daniels Midland (ADM) Company announced that ADM Polymer Corporation, a wholly owned subsidiary of ADM, will end its commercial alliance with Metabolix Inc on 8 February 2012. As a result of this decision, Telles LLC, the sales and marketing commercial alliance created to commercialize Mirel, a biobased plastic, will be dissolved, and Mirel production on behalf of Telles will end. Under the terms of their commercial alliance, ADM Polymer Corporation may provide PHA fermentation services for Metabolix during a three-year period following termination.

“We have analyzed our business portfolio, identifying areas that are not delivering sufficient results now or are not expected to deliver sufficient results within a reasonable timeframe. We have had a good working relationship with Metabolix, and the fermentation technology performed well at our facility. Unfortunately, uncertainty around projected capital and production costs, combined with the rate of market adoption, led to projected financial returns for ADM that are too uncertain. Therefore, we have decided to exit the business as permitted by the commercial alliance agreement with Metabolix,” said Mark Bemis, President, ADM Corn.

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