Auction sale of PHA maker Bio-On's assets

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Type of post: NEWS IN BRIEF.

The court of Bologna has announced an auction sale of PHA maker Bio-On's assets.
Related posts:
- “Hard times for Bio-on”, 04/11/2019.

Figure 1. Night shot of Bio-On`s facility in Castel San Pietro Terme near Bologna

Bio-on, an Italian company focused on the bioplastic sector, inaugurated its first owned plant designed to produce 100% natural and biodegradable polyhydroxyalkanoates (PHAs) in 2018. The production hub is located in Castel San Pietro Terme just outside Bologna in an area of 30,000 m2.

On 24 October 2019, Bio-on announced that the headquarters and administrative, operational and secondary units of the company had been subject to searches and probative seizure of documents, as part of an investigation for false corporate communications and manipulation of the market. Its employees made efforts to identify the most appropriate solutions to overcome that difficult moment and ensure a future for the production of its bioplastics. Unfortunately, on 20 December 2019, the court of Bologna declared the final bankruptcy of the company. Now, the same court has set an auction date for May 5 with a minimum bid of 114.5 M$.

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