SOURCE: International Flavors & Fragrances Inc.

International Flavors & Fragrances Inc.

January 21, 2011 02:00 ET

International Flavors & Fragrances to Invest in Singapore Flavors & Fragrance Plant

SINGAPORE--(Marketwire - January 21, 2011) -  International Flavors & Fragrances Inc. (NYSE: IFF), a leading global creator of flavors and fragrances for consumer products, today reconfirmed that it plans to invest over $100 million in Greater Asia over the next three years. The investment will be allocated to a variety of projects, including a new state-of-the-art liquid flavors and fragrances manufacturing facility in Singapore. 

"I am happy to announce that over the next three years we expect to invest a significant portion of our capital expenditure in Greater Asia," said IFF Chairman and Chief Executive Officer Doug Tough. "As growth in this region continues to accelerate, it is important that we align our infrastructure to support our capacity requirements. Today's investment reflects our continued confidence in our growth strategies in the region and our long-term commitment to these very important, emerging markets."

IFF's presence in Singapore spans over 40 years and the new facility in Singapore represents a key milestone in this history. "Our customers are increasing their investments into the region and we are committed to providing them with world-class support -- the finest flavors and fragrances created under the most demanding quality standards for the Asian consumer," continued Doug Tough. 

The Singapore Economic Development Board is pleased to have IFF's presence in Singapore. "EDB is delighted that IFF has decided to expand their operations in Singapore significantly. IFF is a key player in the F&F industry, which is integral to our vibrant consumer businesses sector, and EDB is happy that IFF will set up a new liquids manufacturing plant, making Singapore its largest liquids manufacturing site worldwide," said Mr. Tan Choon Shian, EDB's Deputy Managing Director.

The new facility is located near the Company's existing site, with a footprint of almost 12,000 m2, allowing production capacity to increase to 20,000 metric tons over time. This plant is purpose-built using global best practices and the processes are in place to improve efficiency, productivity and speed through world-class automation, electronic weight control system and improved work flow. Enhanced regulatory and safety systems are built in to ensure high regulatory compliance. Current expectations are that the workforce at the site will expand to 101 from the current 66.

Doug Tough continued, "With this investment, we are creating a facility that will provide us with years of capacity for the ASEAN market with room for future expansion -- critical to IFF's growth strategy. Singapore provides a uniquely attractive environment with a cost-efficient, high-quality, and speedy supply chain. Its stable operating environment and the benefit of our existing IFF talent, skills, and experience make Singapore an excellent location for us. Today's announcement underscores our belief in the region, the strength of our Asian teams, and IFF's dedication to serving the present and future needs of our customers."

About IFF:
International Flavors & Fragrances Inc. (NYSE: IFF), is a leading global creator of flavors and fragrances used in a wide variety of consumer products and packaged goods. Consumers experience these unique scents and tastes in fine fragrances and beauty care, detergents and household goods, as well as beverages, confectionery and food products. The Company leverages its competitive advantages of brand understanding and consumer insight combined with its focus on R&D and innovation, to provide customers with differentiated product offerings. A member of the S&P 500 Index, IFF has sales, manufacturing and creative facilities in 32 countries worldwide. For more information, please visit our website at www.iff.com.