Solazyme Shares Inch Lower

Solazyme (SZYM) shares inch lower in trading Monday after saying late Friday it expanded a joint venture with Bunge Limited (BG) to include focusing on food.

The expansion is centered on a range of oil for food and products for animal nutrition. As part of the joint venture expansion the companies also agreed to expand their co-funded research programs to include new unique products in nutrition and specialty fats.

The company also said it terminated an agreement with Archer-Daniels-Midland Co.(ADM) that was originally inked on Nov. 13, 2012. The agreement was a strategic collaboration for the production of tailored triglyceride oil products.

Recently, SZYM was down on light volume of 312,900 shares while Bunge was off slightly on light volume of 318,010 shares.

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John Smith
An engineer by degree and blogger by choice. Interested in writing the latest updates happening around the world. Loves to binge watch tv-series and movies.


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