news Adm pulls out of Telles alliance
Archer daniels midland (Adm) is withdrawing from its loss- making bioplastics alliance with metabolix as it does not believe it can deliver sufficient financial results. The two firms formed Telles in 2006 to commercialise mirel pHA. This company will be dissolved on 8 February and Adm will end mirel production. “we have analysed our
business portfolio, identifying areas that are not delivering sufficient results now or are not expected to deliver sufficient results within a reasonable timeframe,” said mark Bemis, president for corn at Adm. “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.” richard Eno, cEo of
metabolix, said: “clearly, we are disappointed by Adm’s
Telles promoted Mirel for a variety of applications
may provide pHA fermentation services for metabolix during a three-year period following termination. All metabolix technology that was used in the joint venture, including intellectual property rights, will revert to metabolix. The company is now conducting a strategic review. it says that it plans to continue to focus on the development of renewable industrial chemi- cals and it remains in ongoing discussions with potential replacement partners for manufacturing and commer- cializing pHA bioplastics. Adm is not the first major
decision to withdraw from Telles. while this is a setback, we remain committed to successfully commercializing pHA bioplastics.” According to the most
recent metabolix financial report for the third quarter of 2011, Telles had a total of 57 customers with just 26 placing repeat orders. For the three months to the end of Septem- ber 2011, metabolix made a net loss of uS$29.2 million. it
had a total revenue for the period of uS$986,000, with more than half of this coming from grants. Adm polymer has been
producing mirel at Adm’s integrated corn processing complex facility in clinton, iowa. There are currently approximately 90 full-time Adm employees at the plant. Adm is currently evaluating the impact on staffing. under the terms of their commercial alliance, it
company to withdraw from a bioplastics alliance. dow pulled out of its natureworks plA joint venture with cargill in 2005. Two years later, Teijin stepped in as 50:50 partner in natureworks, but it also withdrew from the JV in 2009. Thailands pTT chemical bought a share of nature- works in october last year to form a 50:50 JV with cargill. ❙
www.adm.com ❙
www.metabolix.com
leistritz selects Sven wolf as new cEo
Wolf (left) and Fürst form Leistritz’s new executive board compounding world | January 2012
Twin-screw extruder manufac- turer leistritz Extrusionstech- nik has appointed Sven wolf as its new cEo. He has extensive background in senior manage- ment roles at extruder companies, including Theysohn, Technoplast and Starlinger. wolf takes over from Hubertus Schulte who left
leistritz at the end of decem- ber to join the Austrian injection moulding machine manufacturer Engel as its new chief technology officer. wolf will form the leistritz Extru- sionstechnik executive board with chief operating officer Anton Fürst. ❙
www.leistritz.com
www.compoundingworld.com
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