Volume 94 Issue 6 | p. 16 | Concentrates
Issue Date: February 8, 2016

Solazyme Trims Staff And Operating Costs

Department: Business
Keywords: algae, food ingredients

Algal products firm Solazyme says it will cut staff by 20% and consolidate its manufacturing operations in a bid to lower spending by about $40 million per year. In a filing with the Securities & Exchange Commission, the firm also says its Brazilian venture with Bunge has been expanded to include algal food ingredients. In October, Solazyme terminated manufacturing agreements with Archer Daniels Midland in Clinton, Iowa, and American Natural Processors in Galva, Iowa. The . . .

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