International Flavors & Fragrances Inc. (NYSE: IFF), a leading global creator of flavors and fragrances for consumer products, today announced the opening of a new state-of-the-art liquid flavors and fragrances manufacturing plant in Jurong, Singapore. The higher-capacity, 12,000 square meter facility is part of a previously announced US$100 million investment in Greater Asia and replaces the Company’s existing plant in the same area.
“Our continued investment in the Greater Asia region reflects our confidence in the future growth opportunities in this market both for our customers and for IFF,” said Doug Tough, IFF Chairman and Chief Executive Officer. “We are committed to providing our customers with world-class support – the finest flavors and fragrances created under the most demanding quality standards to better serve our Asian customers. We are honored to further build on our over 40 year history in Singapore as an active supporter of its economy,” he continued.
The new plant, with production capacity of up to 20,000 metric tons over time, was designed using industrial best practices in all aspects of its operation, allowing the Company to maximize productivity and efficiency while maintaining high product quality. In keeping with IFF’s commitment to reduce its impact on the environment, the plant was built with automated processes that dramatically minimize usage of water, energy and cleaning chemicals. All waste water is treated on site to the highest industrial standards and the plant generates minimal solid waste. In addition to manufacturing liquid flavors and fragrances for the Greater Asia region generally, the plant will provide support to the Company’s Center of Excellence for Functional Fragrances, which is housed in IFF’s nearby Science Park creative facility.
Mr. Tan Choon Shian, Deputy Managing Director of the Singapore Economic Development Board, said “Singapore is delighted that a market-leader like IFF has chosen to establish its state-of-the-art green manufacturing facility and Centre of Excellence for functional fragrances here. This validates our pro-business environment and robust intellectual property protection for companies such as IFF to undertake proprietary manufacturing activities that will help them win in Asia. Singapore is also committed to developing a vibrant ecosystem of flavors and fragrances suppliers that can support the research and development activities of consumer goods companies to develop products that cater to the needs and preferences of Asian consumers.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV