International Flavors & Fragrances to invest $50m in Indonesian operations
US-based International Flavors & Fragrances (IFF) is planning to invest more than $50m in flavor…US-based International Flavors & Fragrances (IFF) is planning to invest more than $50m in flavors operations in Jakarta, Indonesia.
The amount will be employed in the development of a new advanced creative center on the existing site that will primarily cater to customers in Indonesia, and is scheduled for completion by the fourth quarter of 2014.
IFF will also build a new production plant, in a move to boost capacity to serve global and regional customers in the growing ASEAN region. This plant will become operational in the second half of 2015.
Commenting on the investment plan, IFF chairman and CEO Doug Tough said that the company's increased investment in Indonesia strengthens its ongoing strategy to expand its geographic reach and create infrastructure to serve emerging markets, especially those enjoying dynamic growth rates and demographics.
IFF Flavors Greater Asia vice president and regional general manager Ed Alejandrino said, "With this investment, we are putting in place the creative talent and manufacturing capacity to support our customers in the region more fully as they seek to develop and further differentiate their products and brands."
