The acquisition would include key R&D activities essential to the French amino acid production site, as well as commercial operations in Paris.
The bid, backed by the SPI investment fund managed by Bpifrance on behalf of the French government as part of France 2030, aims to rescue Metex Noovistago, a fermentation specialist threatened with receivership.
Avril said its goal is to ensure a sustainable future for the factory's production of amino acids via fermentation and to secure jobs at the facility. The Amiens site is the only European facility producing lysine, which is crucial for animal nutrition.
“Fermented amino acids are a key lever for decarbonization, and for improving the environmental impact of livestock farming more generally,” commented Avril.
The bid's approval is subject to several conditions, including approval by the Paris Commercial Court and the finalization of exemption and authorization procedures with the relevant competition authorities.
EU opens anti-dumping investigation into lysine
Meanwhile, following a complaint lodged by Metex Noovistago in April, the EU Commission has initiated an anti-dumping investigation into lysine imported from China.
The EU executive, in the official notification of the probe, stated that there is sufficient evidence to justify this enquiry.
"The EU Commission's mobilization on this issue demonstrates a clear desire to re-establish fair competition for amino acids sold in Europe," reads a statement from Metex Noovistago.
The EU probe into dumping and injury will span from January to December 2023. The examination of trends relevant to assessing injury will reference a timeline from January 2020 to the end of the investigation period, according to the EU notice.
