Metabolix Enters into Agreement with Kenmare to Expand Business in Compostable Film Markets in Europe
EU-Based Packaging Supplier Will Promote Mvera B5008, Complementing Metabolix's Business Development Efforts in Europe
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Metabolix, Inc. (NAS: MBLX) , an innovation-driven bioscience company focused on delivering sustainable solutions for plastics, chemicals and energy, today announced that it has entered into an agreement with Kenmare Srl., a packaging solutions supplier based in Milan, Italy and Lugano, Switzerland. Under the agreement, Kenmare will promote to its customers Metabolix's Mvera B5008, a certified-compostable film grade, starting in 2013.
"With growing concern about single-use bags and the emergence of plastic bag regulations requiring either reusable or certified compostable alternatives, it has become increasingly important for bag suppliers and retail stores to offer more sustainable product options," said Francesco Tognato, director, at Kenmare. "We have been pleased with Metabolix products and are honored to offer Mvera B5008 to our customer base as an excellent alternative raw material for compostable bag production. We look forward to expanding our business with Metabolix next year as they ramp up their production in Europe."
Mvera B5008 is designed for consumer compost bags, can liners for commercial compostable food waste, as well as shopping and retail bags that can be reused as consumer compost bags. It is certified by Vinçotte to meet the EN 13432 standard for compostable plastics, and exhibits many of the same performance qualities of the current non-compostable plastic bags- such as excellent puncture and tear resistance, good barrier properties, printability and compatibility with other compostable polymers.
"We're delighted to work with Kenmare to help build awareness and generate additional sales for Mvera B5008 among Kenmare's customers that are at the forefront in providing innovative compostable packaging solutions," said Dr. Stan Haftka, director of business development, Europe at Metabolix. "Kenmare has unparalleled expertise and reach in these regions, working with a number of leading organizations on their packaging needs. This expanded relationship reflects Metabolix's continued growth in European markets and will help us leverage existing Kenmare customer relationships and capabilities to broaden our presence in European markets."
Founded in 2004 and based in Italy and Switzerland, Kenmare is an international distribution company that partners with both retailers and distributors to source their packaging needs with environmental innovation. Kenmare holds strong partnerships with European manufacturers, as well as Asian manufacturers, guaranteeing high standards in quality and service, and a competitive and wide range of products. Thanks to the cooperation with all of its customers and suppliers, and with the commitment and focus of its team, Kenmare has experienced continuous growth over the past few years, for both the Italian and Swiss offices.
For more information, please visit http://www.kenmare.it/.
Metabolix, Inc. is an innovation-driven bioscience company delivering sustainable solutions to the plastics, chemicals and energy industries. Metabolix is developing and commercializing MirelTM and Mvera,TM a family of high-performance bioplastics which are biobased and biodegradable alternatives to many petroleum-based plastics. Metabolix's biobased chemicals platform utilizes its novel "FAST" recovery process to enable the production of cost-effective, "drop-in" replacements for petroleum-based industrial chemicals. Metabolix is also developing a platform for co-producing plastics, chemicals and energy from crops. Metabolix has established an industry-leading intellectual property portfolio that, together with its knowledge of advanced industrial practice, provides a foundation for industry collaborations.
For more information, please visit www.metabolix.com. (MBLX-G)
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding expectations for Metabolix sales, marketing and production, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated and are detailed in Metabolix's filings with the Securities and Exchange Commission. Metabolix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
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