Symrise Secures Competitive Position of German Sites Through 2020

Symrise is committing itself to offering around 50 vocational training positions at its German sites to young people every year.

Jan 16 2012 --- The Executive Board of Symrise AG and the IG BCE (Mining, Chemical and Energy Industrial Union) further developed their collective agreements on January 11, 2012, with the aim of strengthening the Company's German sites and ensuring qualified personnel in the long term. Symrise is therefore extending its employment guarantee for its German sites from the previous date of 2016 to the end of 2020. In return, the staff will do without some salary increases in the future. In addition, the 40-hour week has been fixed until 2020. The agreement also provides for some major additional investment in the German sites. Furthermore, the Group is reacting to demographic change by creating additional apprenticeships as well as staff enhancement and training measures.

The collective agreement signed on January 11, 2012 constitutes the continuation and extension of the existing site guarantee agreement. The first agreement signed in 2009 and the previous guarantee of job security at the German plants up to 2016 will now be extended up to 2020. In view of this, Symrise intends to make further investments in the expansion and modernization of the German sites. Symrise will invest an additional € 100 million in Germany up to 2020, on top of the agreed investment volume of € 120 million up to 2016. The Group is anticipating accumulated cost benefits of more than € 80 million over the course of the agreement.

Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, stated: “This extended agreement represents a long-term commitment to our German sites and sends out a strong signal to our employees. It includes far-reaching measures designed to strengthen our international competitive position. A sturdy foundation for our Company and our employees is crucial to the lasting continuation of our profitable course of growth.”

The new collective agreement also comprises staff training programs and measures designed to facilitate the Company's internal generational change. Symrise is committing itself to offering around 50 vocational training positions at its German sites to young people every year.

“Demographic change will be one of the prime challenges faced by German businesses in the years to come. Symrise is a market leader in a dynamic and global industry and is therefore highly attractive to the next generation of junior staff. We are highlighting this by expanding our training programs, with which we intend to secure access to bright up-and-coming employees for many years to come,” said Head of Human Resources, Dr. Iñigo Natzel.

“The extended site agreement offers security to Symrise's employees in Germany. Symrise guarantees that it will maintain stable occupational levels at the German sites until 2020 and that it will not announce any redundancies made for operational reasons,” said Karl-Heinz Huchthausen, Chairman of the General Works Council of Symrise AG. “The agreement is a combination of the tried-and-tested with important new additions to site expansion and staff training. It reflects the confidence that Symrise has in its business model and in Germany as a business location,” added Peter Winkelmann of the IG BCE.