NEW YORK—International Flavors & Fragrances Inc. (IFF), a global creator of fragrances for consumer products plans to invest more than $100 million in Greater Asia over the next three years. The investment will be allocated to two new state-of-the-art manufacturing facilities located in Guangzhou, China and Singapore.
"I am pleased 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 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."
The facility in Singapore will be used for both flavor and fragrance production. The sites will considerably expand capacity for the Greater Asia region well into the future.
Doug Tough continued, "On the heels of the investment into our Creative Center in Shanghai, 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."