NEW YORK--(BUSINESS WIRE)--Oct. 16, 2012--
International Flavors & Fragrances Inc. (NYSE: IFF), a leading global
creator of flavors and fragrances for consumer products, today announced
that it plans to invest over US$50 million in its existing flavors
facility in Gebze, Turkey over the next three years. The investment will
be allocated to a new, leading-edge, 2,000m2 creative facility and to an
expansion of its existing manufacturing site to 18,000m2 to support
current and future customers in the developing markets of Europe,
Africa, and the Middle East. The Company anticipates opening the site in
phases, with the first phase delivering significant capacity expansion
and expected to be completed by Q2, 2013.
"I am pleased to announce that over the next three years, we expect to
invest significantly in our flavors creative and manufacturing
capabilities in Turkey, which will provide additional support to key
emerging markets," said IFF Chairman and Chief Executive Officer Doug
Tough. “This investment in the facility reflects our continued
confidence in our growth strategies in the region and our long-term
commitment to these very important markets."
Hernan Vaisman, Group President, Flavors added, "The developing
economies of Central, Southern, and Eastern Europe, the Middle East, and
Africa are creating increased demand from our customers, so we want to
ensure we have the right people and the right infrastructure to support
them. Turkey offers an unparalleled strategic hub into the fast-growing
emerging markets in the region that will allow us to significantly
increase and differentiate our value proposition to our customers.”
The new site will be a major center for the Company’s creation of
flavors and technologies for use by manufacturers of sweet goods,
beverages, dairy products and savory prepared foods. The products are
tailor-made to address consumer preferences in a wide range of markets
across the region. In line with IFF’s commitment to sustainability, the
building is designed using Leadership in Energy and Environmental Design
(LEED) standards.
Matthias Haeni, Regional General Manager, Europe, Africa, and the Middle
East (EAME), Flavors, continued, "With this investment, we are putting
in place the creative, technical, and sensory talent to support our
customers in the region more fully as they seek to differentiate their
products and brands. And with the planned efficiency improvements in
manufacturing and supply, we will be well-positioned to increase the
very important speed-to-market.”
The Company has made several large investments in emerging markets over
the last year, including the recent opening of a liquid flavors and
fragrance manufacturing facility in Singapore, the construction of a new
dedicated flavors plant in Guangzhou, China, and the opening of a new
creative, technical, sensory, and sales facility for flavors in Delhi,
India.
About International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (NYSE: IFF) is a leading global
creator of flavors and fragrances used in a wide variety of consumer
products. Consumers experience these unique scents and tastes in fine
fragrances and beauty care, detergents and household goods, as well as
beverages, sweet goods and food products. The Company leverages its
competitive advantages of consumer insight, research and development,
creative expertise, and customer intimacy to provide customers with
innovative and differentiated product offerings. A member of the S&P 500
Index, IFF has more than 5,600 employees working in 32 countries
worldwide. For more information, please visit our website at www.iff.com.
Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
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Shelley
Young, 212-708-7271
or
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