Metabolix Signs Distribution and PHA Supply Agreements with Tianjin GreenBio
Materials Co., Ltd.
Metabolix to Distribute Tianjin GreenBio’s SoGreen™ Heat Shrink Film in the
U.S. and Europe
CAMBRIDGE, Mass. -- March 26, 2013
Metabolix, Inc. (NASDAQ: MBLX), an innovation-driven bioscience company
focused on delivering sustainable solutions for plastics, chemicals and
energy, today announced that it has entered into a distribution agreement with
Tianjin GreenBio Materials Co., Ltd. (“GreenBio”), a biomaterials company
based in Tianjin, China. Under the terms of the agreement, Metabolix will
distribute GreenBio’s SoGreen™ heat shrink film in Europe and will be the
exclusive distributor in the Americas. In addition to a distribution
relationship, Metabolix and GreenBio have also signed a supply agreement for
PHA biopolymers. Under the arrangement, GreenBio will supply PHA resins to
Metabolix, which will extend the range and availability of the Company’s PHA
“Tianjin GreenBio has developed a heat shrink film based on PHA biopolymers.
This product complements our product slate aimed at film and bag applications
and we expect will be of interest to customers in the U.S. and Europe seeking
biobased materials and biodegradable performance,” said Bob Engle, vice
president, business and commercial development, biopolymers, at Metabolix.
“With products and technology that are complementary, the distribution and PHA
supply agreements mark a first step toward potentially working with Tianjin to
develop additional PHA biopolymer products.”
Tianjin GreenBio offers two grades of heat shrink film that are used to bind
together items for packaging, shipping, and storage. One SoGreen product is
designed to replace non-compostable PVC film often used to package boxed
goods, software and other non-edible products. The other is designed to
replace softer polyethylene films, also not compostable and often used for
wrapping multiple items, often bulky and irregular in shape, such as packs of
bottled water. The SoGreen heat shrink film resins (2001 and 3001) are
certified by DIN CERTCO to meet the EN 13432 standard for compostable
“We are excited to work with Metabolix to gain greater exposure for our
products in the Americas and Europe,” said Dr. Lu Weichuan, chairman and
president of Tianjin GreenBio. “Metabolix has extensive experience in
biopolymers, and we look forward to working together to build the market for
PHA-based biopolymer products.”
About Tianjin GreenBio Materials Co., Ltd.
Tianjin GreenBio Materials Co., Ltd. (“GreenBio”) is dedicated to the
development, production and sale of fully degradable biobased polymer
materials from PHA. GreenBio has established a production base for PHA in
Binhai District, Tianjin, China with a design capacity of 10 KTPA. GreenBio’s
vision is to promote the use of fully biodegradable materials in people’s
lives and to reduce the depletion of oil resources in order to effectively
decrease greenhouse gas emissions and make contributions to the sustainable
development of society. For more information, please visit www.tjgreenbio.com.
Metabolix, Inc. is an innovation-driven bioscience company delivering
sustainable solutions to the plastics, chemicals and energy industries.
Metabolix is developing and commercializing a family of high-performance
biopolymers targeted to the markets for film and bag applications, performance
additives and functional biodegradation. 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 product development, 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.
Media and Investor contact:
Lynne H. Brum, 617-682-4693
Additional Media contact:
Schwartz MSL Boston
Keith Giannini or Kirsten Swenson, 781-684-0770
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