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RHODIA
Press release
Rhodia sells its Brewing & Enzymes
business to Genencor
Paris, January 6, 2003
– Rhodia today announced the sale to the U.S. company Genencor International,
Inc. of its Brewing & Enzymes businesses based in the United Kingdom,
the transfer of a technology license and production rights of an animal
feed product.
The Brewing & Enzymes production generated
sales of around 17 million euros in 2001 which included a significant
distribution business for Genencor. Enzyme production is not a core technology
for Rhodia Food, which is focusing on the food additives to respond to
the needs of its strategic markets : dairy, desserts, beverages and nutraceuticals,
meat, savory sauces and dressings; and bakery products.
This transaction fits Rhodia’s strategy
to re-align its portfolio to a growth model based on the cross-fertilization
of technologies and the development of high value-added solutions for
customers.
This transaction will enable Rhodia to
further exceed the target announced at the beginning of 2002 to generate
a total of €500 million from divestitures.
Rhodia is one of
the world’s leading manufacturers of specialty chemicals. Providing a
wide range of innovative products and services to the automotive, health
care, food, cosmetics, apparel, new technology and environmental markets,
Rhodia offers its customers tailor-made solutions based on the cross-fertilization
of technologies, people and expertise. Rhodia subscribes to the principles
of Sustainable Development communicating its commitments and performance
openly with stakeholders. Rhodia generated net sales of €7.2 billion in
2001 and employs 27,000 people worldwide. Rhodia is listed on the Paris
and New York stock exchanges. For more information visit www.rhodia.com.
Genencor International,
Inc. (www.genencor.com)
is a diversified biotechnology company that develops and delivers innovative
products and services into the health care, agri-processing, 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 traces its history to 1982
and has grown to become a leading biotechnology company, with over $325
million in year 2001 annual revenues. Genencor has principal offices in
Palo Alto, California; Rochester, New York; and Leiden, the Netherlands.
Contacts
Press Relations:
Jean-Christophe Huertas
Tel: +33 1 55 38 42 51
Lucia Dumas
Tel: +33 1 55 38 45 48
Investor Relations:
Marie-Christine Aulagnon
Tel: +33 1 55 38 43 01
Fabrizio Olivares
Tel: +33 1 55 38 41 26
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