(AOF) – Metabolic Explorer announces a further extension of the deadline for submitting takeover offers for its subsidiary Metex Noovistago. The specialist in industrial fermentation enabling the manufacture of ingredients of natural origin intended for the animal nutrition, cosmetics and biopolymer markets, announces that having not received an offer, the judicial administrators have taken the decision to extend this deadline from today to June 3, 2024. “This deadline should allow potential buyers to position themselves, in particular the Avril group,” it is specified.
“This period is also necessary to finalize the terms of intervention of one or more public partners, intervention essential to the Avril group for the submission of an offer,” add the managers.
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Nothing is going well for German chemistry
German chemicals, very dependent on Russian gas, are in difficulty. Following sluggish sales in the automotive sector and falling demand in construction, production is down 8.5% in 2022, with overall turnover down 1.6% to 63.1 Billions of Euro’s. Specialty chemistry is doing better. On the other hand, the rate of utilization of production capacities in basic chemicals has slowed significantly to reach less than 80%. The third German industrial sector is tempted by relocation to the United States, where energy costs are much lower. With the Inflation Reduction Act, the United States has established an environment appropriate to current challenges.