Genencor expands capabilities in Latin America
Rochester, New York, (ots-PRNewswire) -
Major Addition at Argentina Facility Solidifies Company's Regional Market Penetration
Genencor International, Inc. (Nasdaq: GCOR) announced today it has expanded its business capabilities in Latin America with the recent opening of its US$6 million coater for the manufacture of granulated enzymes at its Arroyito, Argentina facility. The increased capacity will allow Genencor to extend its full-service support of the cleaning, textile, grain and specialties markets to customers throughout the region.
The company estimates the installation of its coater will triple the site's granular enzyme production capacity and position Genencor to capture a larger share of the $150-$200 million enzyme market in the region. Currently, Genencor's sales in Latin America are growing at 20 percent annually.
In addition to Genencor's increased regional manufacturing capacity, the company also offers sales, marketing, technical and customer service. "We believe Latin America's expanding economy, large population and rich source of raw materials continue to make it an important market for us," said Tom Pekich, group vice president, Industrial Chemicals for Genencor. "In particular, granulated cleaning products are a significant regional business focus for us and by offering a full portfolio of services, we can address customers' needs quickly and efficiently."
The company acquired its Arroyito facility in 1996 through the purchase of the Solvay worldwide enzyme business. Since that time, the company has used the facility to produce products primarily for the cleaning business.
With approximately 100 employees at Genencor facilities in Latin America, the regional headquarters is located in Buenos Aires with sales support in Sao Paulo, Brazil and Mexico City, Mexico. Additionally, Genencor operates eight manufacturing sites around the world and has sales and marketing headquarters for Europe and Africa in Leiden, the Netherlands and Asia Pacific in Singapore.
Genencor International is a diversified biotechnology company that develops and delivers innovative products into the health care, agriculture, industrial and consumer markets. Using an integrated set of technology platforms, Genencor's products deliver innovative and sustainable solutions to many of the problems of everyday life.
Genencor was established in 1982 as a joint venture between Genentech Inc. and Corning Incorporated. Since its founding, Genencor has grown to become a leading biotechnology company, with over $315 million in annual revenues, more than 250 biotechnology products in commerce, and over 3,400 owned and licensed patents and applications. Genencor, with more than 1,500 employees worldwide, has principal offices in Palo Alto, California; Rochester, New York; and Leiden, the Netherlands.
Except for the historical information contained herein, the matters discussed in this press release may contain forward-looking statements which involve risks and uncertainties, including significant fluctuations in product performance depending on factors such as a dependence on the efforts of third parties, a new and uncertain technology employed by Genencor and its uncertain application to new business ventures, dependence on intellectual property rights, the competitive nature of Genencor's industry and risks of obsolescence of certain technology. Actual results may differ materially from those projected. Forward-looking statements represent the judgment of Genencor as of the date of this release. Genencor disclaims, however, any intent or obligation to update any forward-looking statements.
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Investors: Amy Giller, phone +1 650-846-7500
Media: Angie Blackwell, phone +1 716-256-5200, both of Genencor