This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

IFF To Invest Over $50 Million In Strategically Located Flavors Creative And Manufacturing Facility In Turkey To Support Growth

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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,985.61 +78.99 0.47%
S&P 500 1,972.83 +9.12 0.46%
NASDAQ 4,419.0340 +27.5710 0.63%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs