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Business
Metabolix winds down biopolymers business
by Michael McCoy
August 1, 2016
| A version of this story appeared in
Volume 94, Issue 31
The biobased chemicals company Metabolix will wind down its polyhydroxyalkanoate (PHA) polymers business and focus on its newer business in crop yield improvement. The company says it will immediately eliminate 45 positions, about half of its workforce, and eventually get down to a staff of about 20 people. Metabolix warns that an inability to secure financing for the crop yield business could cause it to liquidate entirely. The firm has struggled since 2012, when Archer Daniels Midland ended a PHA joint venture.
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