Genencor International Plans New Enzyme Plant in China

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Genencor International Incorporated (NASDAQ:GCOR) (Rochester, New York) has received tentative financial approval for a new enzyme facility to be built in China. This move falls in line with their business strategy, i-biotech, which promotes capitalization on new opportunities in the fields of health care, agriculture, and industrial chemicals. One such example of Genencor's i-biotech approach was taking an enzyme from an organism existing in an extremely alkaline and high temperature environment from gene discovery to commercial production, which normally takes years, in under twelve months.

Genencor will invest approximately $50 million in the new facility, which will produce enzymes to be used in cleaning products, grain processing and the textile industry. The facility will be located in Wuxi, China and should be operational by the end of 2006. Genencor's proprietary technology will be utilized in the new plant, which is being coordinated by Genencor's Rochester, New York, site and its facility in Leiden, The Netherlands.

Genencor International has become one of the top 20 biotech companies in the world, with a 2004 revenue of over $410 million, a 7% increase from 2003. Genencor develops and utilizes its own technology in manufacturing and producing bioproducts in the fields of immunology, protein expression, directed evolution, and targeting. Genencor's history dates back to 1982 when it was established as a joint venture between Genentech and Corning in hopes of furthering protein engineering for industrial applications. Today, Genencor employs 1,245 people in facilities worldwide.

In late January 2005, Dansico bought Eastman Chemical's 42% stake in Genencor for an estimated $419 million.

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