HOLZMINDEN, Germany— Symrise, a global supplier of flavors and fragrances, announced the extension of its collective labor agreement with IG BCE (Mining, Chemical and Energy Industrial Union) through Dec. 31, 2014. Under terms of the agreement, Symrise will realize savings of more than € 20 million over the next five years linked to pay scale agreements, while the company will guarantee the workforce at its German locations will be maintained over that period.
Dr. Heinz-Jürgen Bertram, Symrise CEO, noted, “The extension of the collective labor agreement expiring at the end of the year is a critical step towards securing Symrise’s international competitive position. It also gives us a great degree of planning reliability in further implementing our successful strategy.”