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BioAmber officers and board members resign

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All of BioAmber’s directors and officers have resigned, the company has announced.

The resignations were part of a court-supervised liquidation process for the Sarnia refinery, a process that has been extended to Sept. 18, according to a news release.

Eleven bids have been received from potential buyers or liquidators interested in BioAmber’s Sarnia refinery, which opened in 2015 at a cost of $145 million, including $51 million in taxpayer funding.

The plant closed earlier this year, leaving most of its 60 employees without jobs.
The resignation of the board and corporate officers leaves court-appointed PricewaterhouseCoopers to oversee the rest of the liquidation process.

The Sarnia plant turned corn syrup into succinic acid, a chemical building used to make everything from plastics to food additives.

 

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