MetEx: court upholds Avril's takeover bid

(CercleFinance.com) - Avril announced on Friday that the courts had accepted its offer to take over Metex Novistagoo's industrial activities in Amiens, as well as Metex's commercial activities based in Paris and R&D in Saint-Beauzire.


The Paris Commercial Court accepted the bid submitted by Avril in association with Bpifrance on behalf of the French State, and with the support of the Hauts-de-France region and the Amiens metropolitan area.

With this project, Avril - France's fifth-largest agri-food group - says it intends to refocus the activities of the former MetEx on fermentation amino acids for the animal industry.

Its objective will also be to optimize the production of basic amino acids, then strengthen the production of specialties and develop an investment policy for the industrial tool.

The idea is also to better control purchases of raw materials and commodities on the markets, it explains.

Under the terms of the operation, 315 former MetEx employees will join the Avril teams.

The takeover will officially take effect on Tuesday, July 16.

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