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Givaudan Signs JV Pact to Produce Fragrance Ingredients in China
Posted: March 10, 2014
Givaudan has signed a joint venture with Zhejiang Xinhua Chemical Co. Ltd. for the production of fragrance ingredients in China.
The company said Xinhua is a leader in aroma chemical manufacture, with an established history of quality production.
“This joint venture is another step forward in our global strategy to get closer to customers in developing markets," said Gilles Andrier, Givaudan's CEO. "Xinhua is perfectly positioned to partner with Givaudan in Asia Pacific.”
Some ingredients currently produced at existing Givaudan sites will be transferred to the joint venture. Transfers will be done progressively over the coming years alongside continued investment in the long-term competitiveness and continuous improvement of existing sites.