Rhodia sells its Brewing & Enzymes business to Genencor

08-Jan-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 EUR 500 million from divestitures.

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