Givaudan to Produce Fragrances With JV Partner in China
Geneva-based flavors and fragrances manufacturer Givaudan has founded a joint venture with China's Zhejiang Xinhua Chemical, as part of a plan to produce some of its perfume ingredients in the People's Republic.
The jv agreement is an additional step in Givaudan's strategy to reinforce its position in developing markets to meet the growing demand in the region and improve its competitive position on a selected portfolio of products, said CEO Gilles Andrier.
Xinhua - which Andrier described as "a leader in aroma chemical manufacture, with an established history of quality production," is "perfectly positioned to partner with Givaudan in Asia Pacific," he said.
The CEO' said transfers of certain products to Chinese plans "will be done progressively over the coming years alongside continued investment in the long-term competitiveness and continuous improvement of existing sites."
The Swiss company regards itself as the global leader in the fragrance and flavours industry.
Xinhua is both a manufacturer and trader of organic amines, aroma chemicals, hydrogen peroxide, ammonia and other large scale products.
