Dow Jones | December 18, 1999
SAO PAULO - U.S.-based Genetic ID Inc., provider of genetically modified organisms testing and certification to the food and agricultural industries, was cited as saying Friday it will license a laboratory in Brazil to supply its services by March 2000.
Jochen Koester, Genetic ID's VP for international business development was cited as saying the licensing agreement will be signed next week with a lab based in Latin America's largest city, but he would not reveal the name of the lab until the agreement is inked.
Genetic ID is, the story says, the leading provider of genetic analytical services focusing on detection and quantification of GMOs in food and agricultural goods, founded in 1996.
Koester was further quoted as saying, "This is a 100% consumer-driven movement. The consumer doesn't want GMO - whether they are stupid or highly intelligent it doesn't matter because they have the cash to consume and we want to serve them."
