SUBSCRIBE

Breaking News on Supplements, Health & Nutrition - Europe US edition | APAC edition

Trends > Botanicals

Fluxome US: “Business as usual” despite euro crisis

By Shane Starling , 04-Oct-2012
Last updated on 04-Oct-2012 at 22:40 GMT2012-10-04T22:40:05Z

Fluxome US: “Business as usual” despite euro crisis

The US operation of financially stricken resveratrol supplier, Fluxome, says the cash crisis that has forced closure of its Danish research facility, will not halt resveratrol supply through its US operation.

In a statement, the US arm of the company said the closure was necessary to preserve the US operation as firm awaits potential investment lifelines around IP for a long-running yeast-derived omega-3 project.

“[The closure] was taken in part to preserve assets for its US commercial operations for the production and selling of resveratrol,” Fluxome Inc. [US] said.

“At this time, the Danish facility has closed its research activities during this reconstruction phase. Fluxome A/S [Denmark], while in reconstruction, is in the process of obtaining additional funding to continue its operations both here and abroad and/or a sale of its assets.”

“In the meantime, it is business as usual for the resveratrol operation and customers should not notice any disruption in supply.”

The closure saw 21 people sacked last week without notice or pay for September as the company filed for a “formal reconstruction” in Danish courts. That matter is set to be heard on October 22.

One observer close to the situation said it was a direct result of mismanagement and overspending on new staff and facilities, while the company said it was precipitated by the last-minute withdrawal of an investor.

Chairman Jarne Elleholm said 3-4 parties - industry players and venture capitalists - had expressed strong interest in taking a share in investing in the omega-3 research project that employed about 15 people until last week.

Fluxome is owned by venture capital firms based in Belgium, France and Denmark.

Related products

Live Supplier Webinars

Polyphenols tipped to become the way to innovate in Sports Nutrition
Fytexia
Orally bioavailable standardized botanical derivatives in sport nutrition: special focus on recovery in post-intense physical activities
Indena
Collagen in motion: move freely and keep your injuries in check
Leading manufacturer of gelatine and collagen peptides
Life’s too short for slow proteins. Whey proteins hydrolysates: Fast delivery for enhanced performance
Arla Foods Ingredients
What it Takes to Compete and Win in Today’s Sports Nutrition Market
Capsugel
Sports Nutrition Snapshot: Key regional drivers and delivery format innovations
William Reed Business Media
Gutsy performance: How can microbiome modulation help athletes and weekend warriors
William Reed Business Media
Pushing the boundaries: Where’s the line between ‘cutting edge nutrition’ and doping
William Reed Business Media
Alpha & Omega in Sports Nutrition – Using Omega 3’s and A-GPC to improve performance and recovery.
KD Pharma

On demand Supplier Webinars

High-amylose maize starch may reduce the risk of type 2 diabetes: what does this qualified health claim mean?
Ingredion
Balancing Innovation and Risk in Sports Nutrition Ingredients
NSF-International
Explaining bio-hacking: is there a marketing opportunity for food companies?
William Reed Business Media
Personalized Nutrition – how an industry can take part in shaping the future of Nutrition
BASF Nutrition & Health
Find out Nutritional and ingredient lifecycle solutions and strategies!
Roquette
Is the time rIpe for I-nutrition?
William Reed Business Media
The Advantage of Outsourcing Fermentation-based Manufacturing Processes
Evonik Health Care
All supplier webinars