Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.
Back in September, Cambridge, Mass.-based Metabolix had announced plans to discontinue operations in Germany and focus its resources on its core biopolymer business. At the time the company said it would discontinue operations in Germany by the end of 2014, and that it was looking for a buyer for all or part of the subsidiary.
Metabolix and Akro-Plastic announced the deal on Oct. 20. Terms were not disclosed, but Akro-Plastic said all of the European employees of Metabolix will continue their work at Akro-Plastic's Bio-Fed unit, based in Cologne, Germany.
Akro-Plastic is acquiring technology for MVERA B5010 and B5011 products, plus certain inventory, contracts and the MVERA trademark.
The two companies plan to work together on PHA products and blends, according to an Akro-Plastic news release.