GCOR Genencor International, (MM)

Genencor Strengthens Its Presence in China ~Company plans to build new manufacturing facility in Wuxi high tech district; purchases remaining shares of joint venture to become wholly owned entity~ PALO ALTO, Calif., Jan. 6 /PRNewswire-FirstCall/ -- Genencor International, Inc. (NASDAQ:GCOR) announced today that it plans to build a new manufacturing facility in the Wuxi, China National Hi-Tech Industrial Development Zone. Genencor has also purchased the remaining approximately 15 percent interest in Genencor (Wuxi) Bio-products from its joint venture partner, the Wuxi Enzyme Factory, and intends to operate the new facility as a wholly owned entity. Once completed, the company plans to transfer operations and personnel from its existing manufacturing facility in downtown Wuxi to the new facility several miles away. The company did not release financial terms of the transaction. "As the enzyme market in China and other Asia Pacific countries continues to grow robustly, Genencor has been steadily increasing its investments in sales, technical service and applications development," said Thomas J. Pekich, group vice president, Bio-products for Genencor. "The building of this new facility is another significant step to support our customer base and to continue to grow our business in this region." Genencor decided to relocate to the Wuxi Hi-Tech Industrial Park after reviewing site and financing options in several other regions in China. Groundbreaking for the construction of the new facility is anticipated for mid-2005 with completion and operations transfer expected to begin in late 2006. The move comes in concert with the Wuxi government's initiative to create a high-tech corridor. "We're working very closely with Wuxi city officials and believe that our move to the new high-tech park offers us many advantages including greater flexibility and responsiveness to supply the market needs in this region," said Carole Cobb, senior vice president Global Supply for Genencor. "The strategic location in China will continue to give us access to key infrastructure, close proximity to knowledge centers and support functions and the ability to retain our existing employees." The new site is approximately 20 acres, which includes room for future expansion and is expected to feature upgraded equipment and provide significant fermentation capacity to produce a wide range of products in Genencor's portfolio. The new facility is also expected to house sales support, customer service, technical and logistical support as well as warehouse operations. In addition to Genencor's operations in Wuxi, the company maintains sales and marketing offices in Shanghai, Beijing and Guangzhou. About Genencor Genencor International 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 improve the quality of life. Genencor traces its history to 1982 and has grown to become a leading biotechnology company, with over $380 million in year 2003 annual revenues. Genencor has principal offices in Palo Alto, California; Rochester, New York; and Leiden, the Netherlands. This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These include statements concerning plans, objectives, goals, strategies, future events or performance and all other statements which are other than statements of historical fact, including without limitation, statements containing words such as "believes," "anticipates," "expects," "estimates," "projects," "will," "may," "might" and words of a similar nature. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Some important factors that could cause actual results to differ include dependence on the efforts of third parties; approvals of the Chinese government; dependence on new and uncertain technology and its uncertain application to new business ventures; regulatory actions or delays, or uncertainties related to product development, testing or manufacturing; ability to form and maintain strategic alliances; dependence on certain intellectual property rights of both Genencor and third parties; the competitive nature of Genencor's industry and risks of obsolescence of certain technology. These and other risk factors are more fully discussed in Genencor's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission. The forward-looking statements contained in this release represent the judgment of Genencor as of the date of this press release. Genencor disclaims, however, any intent or obligation to update any forward-looking statements. DATASOURCE: Genencor International, Inc. CONTACT: Media: Angie Blackwell, +1-585-256-6973, Investors: Thomas Rathjen, +1-650-846-5810, both for Genencor International, Inc. Web site: http://www.genencor.com/

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