10/17/2012

Fragrance firm to invest over USD 50 million in Turkey

Hürriyet Daily News - International Flavors & Fragrances Inc., a leading global creator of flavors and fragrances for consumer products, announced that it plans to invest over USD 50 million in its existing flavors facility in Gebze, in Turkey’s northwestern province of Kocaeli over the next three years.


The investment will be allocated to a new, leading-edge, 2,000 square meter creative facility and to an expansion of its existing manufacturing site to 18,000 square meters to support current and future customers in the developing markets of Europe, Africa and the Middle East.


“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.


Hernan Vaisman, Group President, Flavors added: “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 that 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.”

/Style%20Library/Invest/images/news.png
turkey; cosmetics sector; cosmetics turkey; iff turkey; international flavors & fragrances; iff gebze; iff kocaeli