US International Flavors & Fragrances to invest $50m in Turkey project

16 October 2012 15:31  [Source: ICIS news]

HOUSTON (ICIS)--International Flavors & Fragrances (IFF) plans to invest more than $50m (€39m) to expand its site in Gebze, Turkey, in the coming three years, the US-based firm said on Tuesday.

IFF will expand an existing plant at Gebze and add a new 2,000 square-metre facility as it responds to increased demand from customers in central, southern, and eastern Europe, the Middle East, and Africa, it said.

The investment is focused on flavors and technologies for use by manufacturers of sweet goods, beverages, dairy products and savoury prepared foods, IFF said.

The first phase of the project is expected to be completed by the second quarter of 2013, it added.

“This investment in the facility reflects our continued confidence in our growth strategies in the region and our long-term commitment to these very important markets," CEO Doug Tough said.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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