Cellulac yesterday formally requested Metabolix shareholders to consider merger proposal. Cellulac plc is an industrial biochemicals investment technology company, that have been interested in Metabolix Inc., ($MBLX) for some time and after their announcement, in May 2016, of a strategic review, Cellulac made a formal proposal via the CEO to merge both companies.
Metabolix, an U.S. advanced biomaterials company focused on sustainable solutions for the plastics industry, announced that it has entered into a Memorandum of Understanding with CJ CheilJedang Corporation (“CJ”) for a strategic commercial manufacturing arrangement for specialty PHAs, including the Company’s newly launched amorphous PHA (“a-PHA”).
CJ CheilJedang is a Korean-based food, feed, and bioscience company, and a subsidiary of the CJ Group. It is a global leader in the area of industrial biotechnology with innovations in fermentation and purification technologies.