UPDATE: ADM to End Commercial Alliance with Metabolix
Archer Daniels Midland Company (NYSE: ADM) announced today that ADM Polymer Corporation, a wholly owned subsidiary of ADM, will end its commercial alliance with Metabolix, Inc. (NASDAQ: MBLX) on February 8, 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.