Market Overview

UPDATE: ADM to End Commercial Alliance with Metabolix

Share:

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.

Posted-In: News Contracts

 

Related Articles (MBLX + ADM)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Thoratec Corp Does not Expect FDA Letter will Materially Impact Company's Financials

Afternoon Movers; Markets Moved Higher