IFF Strengthens Abilities in China
Located at The North in the Putuo district of Shanghai, the center provides an attractive and customer-focused environment for flavor and fragrance creation. The facility strengthens IFF’s presence in Greater Asia and is part of an ongoing global program to expand and modernize its facilities to capitalize on strategic growth opportunities.
10/02/09 To satisfy the fast-growing demand of its customers in China and Greater Asia for innovative flavor and fragrance solutions, International Flavors & Fragrances announced the opening of its new Shanghai Creative Center. The center includes state-of-the-art creation and application facilities, as well as a consumer insights center that allows IFF and its customers to gain deeper understanding of the rapidly-changing needs and preferences of this dynamic region.
Located at The North in the Putuo district of Shanghai, the center provides an attractive and customer-focused environment for flavor and fragrance creation. The facility strengthens IFF’s presence in Greater Asia and is part of an ongoing global program to expand and modernize its facilities to capitalize on strategic growth opportunities.
“IFF is dedicated to helping our customer grow their brands,” says Robert M. Amen, chairman and CEO of IFF. “To deliver on this, we must invest in material science, creativity, and consumer insights. The new Shanghai Creative Center is a wonderful demonstration of this commitment. I am confident that it will inspire our colleagues to create scent and taste experiences people love.”
Last week IFF said that sales in the fourth quarter of 2008 increased 2% versus the comparable period in 2007, whereas reported sales of $539 million were down 3% due to the strengthening US dollar. Net income in 2008 was $49 million compared to $47 million in 2007. Flavours delivered reported sales growth in all regions – most notably in Latin America and Greater Asia. Good results were reported across most categories, with beverages and confectionery the strongest. For the year, sales in local currency increased 6% driven by new wins, strong volume gains in the emerging markets and price increases. Reported sales increased 9% to $1.1 billion. Operating profit increased $11 million to $198 million despite higher input costs, investments in strategic initiatives and restructuring charges. IFF recently announced the appointment of Barentz UK Limited as its official distributor for the UK and Ireland.
