Key Developments: Metabolic Explorer SA (METEX.PA)
2.91EUR
10:04am EDT
€-0.04 (-1.36%)
€2.95
€2.95
€3.01
€2.85
267,304
352,517
€4.26
€2.03
Latest Key Developments (Source: Significant Developments)
Metabolic Explorer SA Updates on New Factory in Malaysia
Metabolic Explorer SA and Malaysian Bio-XCell (Bio-XCell), the developer of the Bio-XCell biotechnology park and ecosystem in the Iskandar region of Malaysia, informed that they have reviewed progress on the plan to build a PDO plant and that are pressing ahead with plans to opening it. The partners have reached agreement on the principles of a new organisation structure for engineering, notably by replacing the present engineering company, and stated that they will adjust the contractual framework before end of May 2013, in order to resume operations by September 2013. The partners have also reached an agreement on the findings of the on-site analyses, which show that only minor corrective measures are needed and will not affect the schedule for resuming operations. Finally, the partners have defined the different types of acceptable guarantee to be given, which, under the new agreement, will not affect Metabolic Explorer SA's cash position. Full Article
Metabolic Explorer SA Cuts 35 Jobs
Metabolic Explorer SA announced that it is cutting 35 jobs as part of its restructuring program. Full Article
Metabolic Explorer SA Announces Information On Reorganization Project
Metabolic Explorer SA announced that it is initiating a reorganization project in order to cope with the new economic situation and the change in market conditions since the beginning of the year. The Committee and the Management Company met on November 6, 2012, to obtain the opinion of Company on the proposed reorganization contemplated. For the record, the Company had decided at the last meeting, to be assisted by an expert to comment on the economic reasons behind the proposed reorganization. This meeting is scheduled to expire in late November 2012. Full Article
Metabolic Explorer SA Updates on New Factory in Malaysia
Metabolic Explorer SA and Malaysian Bio-XCell (Bio-XCell), the developer of the Bio-XCell biotechnology park and ecosystem in the Iskandar region of Malaysia, announced an update on the solution adopted to pursue construction of the Metabolic Explorer plant. Bio-XCell's decision to modify the technical approach to soil conditioning, which is necessary to resume construction of the plant, has affected the construction schedule. As a consequence, Metabolic Explorer and Bio-XCell have agreed to pursue their cooperation under a re-negotiated contractual framework. Accordingly, the two partners have signed an agreement allowing for a maximum of seven months to establish the technical and contractual measures needed to enable the project to proceed properly. In addition to signing the agreement to suspend the contract, Bio-XCell has released the RM 23.2 million (EUR 5.5 million) bank form of guarantee to Metabolic Explorer. In return, Metabolic Explorer has committed to providing a new guarantee, at the end of the seven-month period, that does not draw on available cash. Full Article
Metabolic Explorer SA Updates on New Factory in Malaysia; Sales Deals for Texerol
Metabolic Explorer SA announced that the completion of its new factory in Malaysia will be delayed by more than six months due to the fact that work on the ground which the owner of the site, Bio-XCell, was contracted to do has not been completed according to schedule. As a result of this delay the Company intends to renegotiate elements of its contract with Bio-XCell. The Company also announced that it has signed two agreements in principle for the sale of Texerol to PTT producers. The requirements of these producers are in excess of half the production capacity of the new factory in Malaysia. The financial terms of the contracts were not disclosed. Full Article
Metabolic Explorer SA and ROQUETTE Announces Positive Results of Zootechnical Tests Initiated Which Pave the Way to Industrialisation Phase of L-Methionine Project Developed Under Exclusive License
Metabolic EXplorer SA and ROQUETTE announced a step forward in their exclusive partnership for the biological production of first 100% bio-based L-Methionine. The zootechnical tests initiated on poultry have shown positive results in terms of nutritional efficiency, results that are comparable to those achieved with petrochemical Methionine. The nutritional tests carried out on piglets in 2011 also demonstrated positive results. Having achieved high performance with poultry and piglets, ROQUETTE is initiating an industrial engineering study on the basis of a significant production capacity. Full Article
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