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International Flavors & Fragrances Inc. (NYSE: IFF) today announced the opening of its expanded fragrance plant in Singapore.
Based in Jurong, the new facility is strategically located for IFF's Asia Pacific business and will enable the Company to serve its customers' growing markets from a pro-business, politically-stable, and well-located country. With the expanded capacity, IFF Asia Pacific can repatriate business that has previously been handled in North America and Europe.
“This expanded plant takes us an important step further in our efforts to achieve IFF's global corporate strategy,” said Richard A. Goldstein, Chairman and Chief Executive Officer. “This is a critical strategic development as a significant percentage of our Company's ongoing growth will come from Asia Pacific, and specifically the countries that this plant will support.” Goldstein attended the opening ceremony of the plant on Friday, November 4.
The expansion allowed IFF to increase output from 1,600 tons in 2004, to 2,500 tons in 2005, and is forecasted to produce 3,000 tons in 2006. IFF added state-of-the-art equipment, such as new mixing and storage tanks, a new mezzanine floor, epoxy walls and floor, and new drums and piping—increasing both storage and production capacities. Nineteen additional jobs have been created, bringing IFF's total workforce in Singapore to 82.
IFF is a leading creator and manufacturer of flavors and fragrances used in a wide variety of consumer products—from fine fragrances and toiletries, to soaps, detergents and other household products, to beverages and food products. IFF is dedicated to The Pursuit of Excellence in every area of its business, using knowledge, creativity, innovation and technology to continually provide customers with the highest quality products and service and superior consumer understanding.
IFF has sales, manufacturing and creative facilities in 31 countries worldwide and annual sales exceeding $2.0 billion. For more information, please visit our Web site at www.iff.com
Regional VP, Asia Pacific