Symrise invests in Russia and Singapore
In the nine months of the current financial year reported to date, about 41 per cent of Symrise’s €352.4m sales came from regional and local customers in emerging markets. The German flavour and fragrance company has described emerging markets as its “growth drivers”.
It is now building on its long history in Russia with the acquisition of property and buildings from Aromaros-M Group. The main building has around 3500 square metres, and will be the hub of new production facilities and laboratories that will focus initially on dry blends.
The value of the property acquisition has not been disclosed, but Symrise says it will help it increase its penetration in the local market, and prove helpful to global customers as it is closer to the target region. It will serve not only Russia, but the CIS states too.
Heinrich Schaper, president of flavour and nutrition for Symrise EMEA, said: “The establishment of a fully integrated facility in Russia enables us to service them faster and more directly, and it will provide an important advantage to our partners in our mutual drive for sustainable business growth”.
In 2008, Symrise set up new sensory testing labs for sweet, savoury and testing labs.
But it is by no means the only flavour firm gaining a foothold in the country. In December International Flavors and Fragrances announced the opening of its new Moscow facility.
Singapore fling
Last month Symrise celebrated the opening of a new plant in another high potential market, Singapore. Billed as state-of-the-art, with energy- and waste-saving features built in, it dedicated to liquid flavours, for use in beverages, ice cream and dairy products.
DEO Dr Heinz-Juergen Bertram called Singapore “a highly innovative market and, therefore, an ideal location for trendsetting technology”. The plant was built with cooperation from the Singapore Economic Development Board, which promotes Singapore as a prime business location.
Such a local set up is said to help Symrise respond better, more quickly and more flexibly to the needs of its customers in Singapore and South Asia. Around 50 per cent of the flavours Symrise produces in Singapore for the South Asian market are for Asia Pacific.
In 2008 Symrise opened a new plant for flavour encapsulation in Singapore. Over the next three years it plans to invest some 40m Singapore dollars in the location.
