BioAmber Inc. BIOAQ

Manufacturing Facility

[Rocky7777]

BioAmber Inc. operates the world’s largest succinic acid plant in Sarnia, Canada. The facility has a nameplate capacity of 30,000 tons per year and was built at a cost of $141 million. Construction was completed in 2015.

Beyond Sarnia, BioAmber Inc. is planning to build a second world-scale plant in North America that will produce 1,4-butanediol (BDO), tetrahydrofuran (THF) and succinic acid. The nameplate capacity is expected to be 100,000 tons of BDO/THF and 70,000 tons of succinic acid per year. BioAmber Inc. has signed take-or pay contracts for approximately 80% of the nameplate capacity of this second plant, which is expected to complete construction in late 2018.

[Rocky7777]

Are these guys serious? I am assuming  building of the second plant has started already. I actually don't know for sure!   BOD and Managements have failed miserably and need to go. Why would you need 7 directors and 6 senior management and 80 employees to run a company that loses money with every product it sells. Products sold were 3.3M, Product cost was almost 6M, R&D cost

[Rocky7777]

I actually looked up their plant on google map (https://www.google.ca/maps/place/Bioamber/@42.9442244,-82.4284099,1216m/data=!3m1!1e3!4m5!3m4!1s0x88259d7260ef6a3d:0xf60d475d8e274ac7!8m2!3d42.9407551!4d-82.4223345) Does anyone know if they own the land or not? And, what is the size of their land? TY