Bothell, Washington
May 8, 2002
EDEN Bioscience Corporation (Nasdaq:EDEN), which develops,
manufactures and markets innovative, natural protein-based
products for improving crop production and protecting plants,
today announced the reduction of 20 full-time positions in the
U.S. and Europe, bringing total post-reduction headcount to 66
full-time employees.
In connection with this reduction, EDEN Bioscience expects to
take a severance charge of up to approximately $250,000 in the
second quarter of 2002.
"U.S. staff reductions are across most areas of the company
except sales," said Brad Powell, CFO and interim president. "In
Europe, we are implementing a plan that will continue our
regulatory programs and work with key accounts, but will
significantly reduce our operating expenses. I am encouraged by
the increasing usage of Messenger, and I believe that these
changes to our cost structure allow us additional time to
further increase grower adoption in this challenging
agricultural economy."
EDEN Bioscience is a plant technology company focused on
developing, manufacturing and marketing innovative, natural
protein-based products for agriculture. EDEN believes its
technology and initial product, Messenger, provide growers with
a new tool to improve crop production and plant protection.
Messenger, which received unconditional EPA approval for full
commercial use in April 2002, is based on naturally occurring
proteins called "harpins," which activate natural plant defense
systems to protect against disease and pests, and simultaneously
activate plant growth systems, improving crop yield and quality.
It has been tested in over 1,000 field trials in many countries
and on more than 40 crops including: citrus, cotton, cucumber,
peppers, strawberries, tobacco, tomatoes, grapes and corn.
(c) 2002 EDEN Bioscience
Corporation. Always read and follow label instructions before
buying or using this product. Messenger(R), EDEN(R), and EDEN
Bioscience(R) are registered trademarks of EDEN Bioscience Corp.
Messenger is not currently registered for sale or use in
Colorado. In California, Messenger is labeled for disease
management in strawberries, grapes, and fruiting vegetables
only.
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