In our review of the business I will begin with Mirel biopolymers. After the ADM termination of the Telles joint venture in January, I outlined our plan forward for you. I told that you that we would launch Mirel biopolymers under the metabolics nameplate. We said that we would focus on high valued segments, initially target a 10,000 ton per year plant, maintain the ability to engage multiple partners, deploy our most recent technology and retain the potential to create an integrated value chain. I ’m pleased to announce today that we are well on our way to delivering upon all of these objectives with the announcement of a manufacturing partnership.So let ’s turn to slide two of the accompanying slides. We selected Antibióticos in León, Spain for commercial production of Mirel biopolymer resin and have signed a letter of intent or LOI to initiate the collaboration. Antibióticos is a highly regarded toll manufacturer of fermentation products who has and been in business for over 50 years. They have manufacturing equipment very well suited to the production of Mirel resin and as such are an ideal selection for our initial production site.
Metabolix's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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