IFF To Invest Over $50 Million in Strategically Located Flavors Creative and
Manufacturing Facility in Turkey to Support Growth
NEW YORK -- October 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.
International Flavors & Fragrances Inc.
Shelley Young, 212-708-7271
Carol Brys, 212-708-7121
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