October 24, 2012

More delays for METEX' bio-PDO

France-based METabolic EXplorer (METEX) is joining the ranks of other public industrial biotechnology firms (such as Amyris, Codexis, Gevo...) who are not too happy with the way their stocks are falling this year.

Difficulty in financing and planned capacity delays are also hitting METEX hard with the company announcing on October 8 plans to reduce its workforce to 75 people, about 1/3 of its employees from a total count of 121 as of December 31, 2011, according to French news agency Boursier.com

According to METEX, the reorganization plan is a result of a difficult economic market conditions that started the beginning of this year, and that the company has to address "a greater need for competitiveness."

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