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Frutarom Invests $30M in Expanding Manufacturing, Building R&D Center
Posted: October 17, 2012
Frutarom Industries Ltd. (Haifa, Israel) is investing about $30 million into expanding operations, which includes building a center for research and development as well as innovation, and a manufacturing plant for taste and health natural products in Israel.
The company said the plant, which will be located on a 16-acre site, will increase production capacity and strengthen Frutarom's taste and health business as well as support its rapid growth strategy through both acquisitions and organic growth.
"We identified the trend of a shift towards natural products and health products well in advance, and have been able to integrate these intelligently into Frutarom's unique product portfolio," said Ori Yehudai, Frutarom's president and CEO. "The building of the new plant, which will serve as a center for research and development and innovation in these growing areas, is one more step in our expansion of development of innovative, unique products addressing the most current consumer preferences."
Yehudai also added that the company plans to increase cooperative ventures led by its planned R&D center and plant.