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 $50 million in its flavors operations in Jakarta, Indonesia. The investment will include a new state-of-the-art creative center on the existing site that will primarily support customers in Indonesia and is expected to be completed by the fourth quarter of 2014. Additionally, the Company will build a new manufacturing facility in a nearby site to expand capacity and better serve global and regional customers in the growing ASEAN region. This facility is expected to be operational in the second half of 2015. This investment is consistent with IFF’s strategy to capture the growth potential of the emerging markets.
Doug Tough, Chairman and CEO of IFF, said, “The ASEAN markets include 600 million consumers and roughly 240 million are located in Indonesia. Our increased investment in Indonesia strengthens our ongoing strategy to expand our geographic reach and create infrastructure to serve emerging markets, especially those enjoying dynamic growth rates and demographics. IFF has had a long-standing presence in Indonesia, and this additional investment in expanded capacity reflects our long-term commitment to the region.”
Ed Alejandrino, Vice President and Regional General Manager Flavors, Greater Asia, said, “With this investment, we are putting in place the creative talent and manufacturing capacity to support our customers in the region more fully as they seek to develop and further differentiate their products and brands. Over the past few years, we have made several large investments in new manufacturing capacity in the Greater Asia region, reflecting our long-term commitment to support customers’ growth and success in the region.”
The Company has made several large investments to support the developing markets over the last few years. This includes the opening of a liquid flavors and fragrances manufacturing facility in Singapore; the construction of a new flavors creative center and expansion of the existing manufacturing site in Gebze, Turkey; and the construction of a new dedicated flavors plant in Guangzhou, China. In addition, the Company opened new creative and technical facilities in Delhi, India; in Guangzhou, Beijing and Chengdu, China, and in Dubai, UAE.
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