Givaudan has signed a joint venture agreement with Privi Speciality Chemicals Limited, India, to strengthen production capabilities for its global specialty fragrance ingredients.
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Through the agreement, a new greenfield production plant will be built in Mahad, a city located south of Mumbai, to manufacture small-volume fragrance ingredients of medium to high complexity.
The joint venture with Privi supports Givaudan’s ambition to enhance fragrance capabilities in high-growth markets and its commitment to advance manufacturing capabilities as a core part of its long-term strategic vision.
Givaudan will transfer a number of small-volume products from its production facility in Vernier, Switzerland to the newly formed joint venture over the next five years. This will allow the site in Switzerland to focus resources on key strategic ingredients.
Maurizio Volpi, president of Givaudan Fragrance & Beauty, said, “This joint venture supports our global strategy to further strengthen our manufacturing footprint by also being present in India. Privi is not only perfectly positioned to support the region, but also highly skilled in managing the complexity of producing fragrance ingredients of different ranges of volumes. This agreement will enable us to evolve our dynamic portfolio of small signature products that enhance the perfumer's palette and give their creations a competitive edge in the market.”
Mahesh Babani, CMD Privi Speciality Chemicals Ltd., said, “We are excited with this opportunity to be partnering with Givaudan to support and expand their production of specialty fragrance ingredients. We look forward to showcasing our know-how and manufacturing expertise as a trusted partner through this strategic joint venture.”
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