Recently formed ingredients company Solae is to consolidate its headquarters, administrative and research operations into the St. Louis metropolitan area.
Representatives of the company have been working with state and local governments to determine what economic incentives might be available in each location.
"In the end, despite generous incentives from the Ft. Wayne-Allen County Economic Development Alliance, our analysis indicated that consolidating operations in St. Louis was the best economic option for the company, our customers, and our stockholders," said Terry Fox, CFO of Solae.
With operations and staff in both St. Louis and Fortt Wayne, a team led by Terry Fox began considering options to consolidate operations at one of the two locations, or to continue operating both locations. "This was a difficult decision for us because so many of our employees are affected," Fox said. "We have approximately 130 people employed in our Ft. Wayne location, and more than half of those people will be offered the option to relocate." The company expects the transition to take up to one year
Born from an alliance between US agribusiness giant Bunge and DuPont Protein Technologies - Solae was formed on 1 April 2003. Last week the company filed a complaint with a court in the US claiming that the companies Archer Daniels Midland and Amerifit Nutrition have infringed certain patent rights over certain soy isoflavone patents.