Record Results Again For Frutarom For Third Quarter:
"Our innovative taste and health solutions provide the ultimate solutions for consumers' demands, and are in line with major trends of the global food market, offering advanced combinations of taste and health, anti-aging products and foods targeted towards the needs of specific populations and age groups. The great added value of the Company's solutions, its global purchase infrastructure and its high management abilities for the Company's large product mix provide an excellent business infrastructure for continued growth, utilization of the important competitive advantage in emerging and developed markets and maximization of the potential and of the many business opportunities existing in the global market. These have allowed us to achieve rapid profitable growth even in the challenging market conditions - and this will continue.
"At the same time, we look forward to achieving significant savings in costs and further improvement in our profit margin, as apart from our many cross selling opportunities, the acquisitions created many opportunities for improvement of the Company's profit and margin resulting from the integration of production infrastructures in the main countries we operate, optimization of supply and logistics infrastructures, improvement of global purchase capacity and strengthening our purchase resources. These will take effect mainly next year. In addition, we are also moving ahead with plans to integrate a number of production sites and to transfer other activities to countries where operational costs are lower. The contribution of these activities to profit and margin will mainly come to fruition starting from the second half of next year.
"Frutarom's capital structure and level of net debt, which was significantly reduced, supported by the Company's strong cash flow from operating activities which reached US$63 M over the first nine months of 2012, will allow us to continue to relentlessly realize our rapid and profitable growth strategy".
About FrutaromFrutarom is a global company operating in the global flavor and fine ingredients markets. Frutarom has significant production and development centers in three continents and it markets its products in five continents to over 14,000 customers in more than 130 countries. Frutarom's products are intended mainly for the food, beverage, flavor, fragrance, pharmaceutical, nutraceutical, health food, functional food, food additives and cosmetic industries. Frutarom, which employs approximately 2,050 people worldwide, has 2 main activities:
- The Flavors Segment, which develops, produces and markets flavor compounds and food systems.
- The Fine Ingredients Segment, which develops, produces and markets natural flavor extracts, natural functional food ingredients, natural pharma/nutraceutical extracts, specialty essential oils, citrus products and aroma chemicals.
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