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The Associated Press September 23, 2010, 7:41PM ET

Martek Biosciences sells assets from Ky plant

Supplements maker Martek Biosciences said Thursday it will sell most of the assets from a Kentucky plant to Alltech, an animal health company.

Under the agreement, Alltech will pay Martek $14 million over the next four years. Alltech will acquire the majority of the land and buildings at the Nicholasville, Ky., site, along with some equipment.

The transaction is expected to close by Nov. 30.

Shares of Martek Biosciences fell 2 cents Thursday to $22.84.

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