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Flavor & Fragrance Top Companies - Final Sales Estimates for Years 2012-2016 as of October 5, 2017
Givaudan 2017 9 Month results - 10 October 2017 - In the first nine months of 2017 Givaudan recorded sales of CHF 3,757 million, an increase of 3.5% on a like-for-like1 basis and 6.8% in Swiss francs compared to the previous year. Fragrance Division sales were CHF 1,740 million, an increase of 2.2% on a like-for-like basis and an increase of 2.5% in Swiss Francs. Flavour Division sales were CHF 2,017 million, an increase of 4.7% on a like-for-like basis and an increase of 10.9% in Swiss Francs. Total sales of Fragrance compounds (Fine Fragrances and Consumer Products combined) increased by 2.6% on a like-for-like basis. In Swiss francs, sales of compounds increased by 3.0% to CHF 1,515 million from CHF 1,472 million in 2016.
The Flavour Division reported sales of CHF 2,017 million, a growth of 4.7% on a like-for-like basis and an increase of 10.9% in Swiss Francs. Givaudan successfully closed the acquisition of Vika B.V. acquired in September 2017. Including all acquisitions for the comparable period the growth was 12.5% in local currency. The sales performance was driven by new wins and strong business expansion in North America, Europe, Middle East and Africa. Asia Pacific grew whilst Latin America experienced a decline compared to 2016, against strong comparables, largely driven by challenging market conditions in Brazil. From a segment perspective, Dairy, Savoury and Beverages all contributed to the positive sales development.
Firmenich Full Year 2016-2017 Sales - Geneva, Switzerland, October 5th, 2017 Fiscal year 2017 (FY17) was a year of strategic achievements for Firmenich.
Firmenich recorded 3.34 billion Swiss francs (CHF) in net sales, an increase of +4.4% in CHF versus the previous year. With all its Business Units posting steady growth, the Group further consolidated its number one position in Fine Fragrance and Ingredients.
Taking its legacy of excellence forward, the Company evolved its Board of Directors, starting with the appointment of Patrick Firmenich as Chairman of the Board and Barbara Kux as Vice-Chair. The Company also welcomed two new board members: Richard Ridinger, CEO of Lonza, and Pierre Bouchut, COO of Ahold Delhaize.
Firmenich reinforced its commitment to Geneva, Switzerland this year, as it announced over CHF 160 million (m) investments. The Group inaugurated its new cutting-edge Perfumery Plant in November, representing a CHF 60m and announced its intention to invest over CHF100m to create a campus of excellence in Geneva with a world-class research facility by 2020. In parallel, to support its international growth, Firmenich opened new facilities in Nigeria, Korea, Mexico, Singapore and the United States this year.
Firmenichs growth was fueled by leading innovation and creativity in many ways this year.
In line with the United Nations Sustainable Development Goals (UN SDGs) and its commitment to the United Nations Global Compacts 10 principles, Firmenich put its innovation to work to address key societal challenges, such as hygiene and sanitation, health and nutrition, and climate change.
To address todays sanitation crisis, the Company successfully launched breakthrough technologies that effectively counter malodor, in partnership with the Bill & Melinda Gates Foundation, to reinvent toilets at the base of the pyramid.
To enable responsible nutrition solutions, Firmenich advanced its leading taste modulation technologies to reduce sugar, salt, and fat without compromising on taste. The Company estimates that its solutions removed 100,000 metric tonnes of sugar, equivalent to 500 billion calories, from its customers food and beverage brands this year.
Gaining traction with its pioneering bio-based ingredients, the Group reached significant growth with its latest molecule Ambrox® Super, building on the success of Clearwood®. Beyond their unique olfactive profiles, these molecules deliver optimized environmental performances.
Strengthening its prestigious circle of world-class creators, Firmenich proudly appointed two perfumers, Nathalie Lorson and Tony Reichert, as Master Perfumers, recognizing their iconic body of work and legacy in developing the Companys next generation of talent.
The Groups creativity was further celebrated by the industry this year when Harry Frémont was honored with the Fragrance Foundations Lifetime Achievement Award. In France, Perfumer Fabrice Pellegrin was named Perfumer of the Year by Cosmétiquemag for his best-selling creations and mastery of Firmenichs natural ingredients.
Recognizing the Groups leadership in responsible sourcing in Indonesia, Firmenich was honored to receive the countrys Presidential Award, acknowledging its positive impact in enhancing the livelihoods of patchouli farming communities.
The Group acquired a majority stake in Essex Laboratories this year to lead in natural mint solutions. With a common commitment to responsible sourcing, Firmenich and Essex combine their unique innovation to deliver top-quality sustainable and traceable mint.
To build the most sustainable and traceable value chain for its natural ingredients, Firmenich hosted its third Naturals Together event in Singapore. Working hand in hand with its partners at the source, key experts, and customers, the Company harvests its most pristine ingredients from nature sustainably.
Human perception goes digital at the Campus of the Senses in Erlangen - 1 September, 2017 - Future multisensory digital systems will have the ability to understand and simulate human sensory perception. The aim of the Campus of the Senses in Erlangen is to conduct fundamental research into the digitalization of human sensory experiences and to derive new technologies and services from this knowledge. Future multisensory digital systems will have the ability to understand and simulate human sensory perception. The aim of the Campus of the Senses in Erlangen is to conduct fundamental research into the digitalization of human sensory experiences and to derive new technologies and services from this knowledge. The Campus of the Senses is a joint initiative of the Fraunhofer Institutes IIS and IVV in cooperation with Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU).
The trend toward digitalization, until now mostly associated with industry, is increasingly spreading to all other areas of life, including peoples everyday activities. The Campus of the Senses in Erlangen intends to digitally recreate human senses such as sight and hearing, and especially the chemical senses of taste and smell. For instance, machines could be designed to help people who have lost their sense of taste and smell due to an infection determine whether food has gone bad.
Our understanding of the complex processes of human sensory perception is still relatively limited, and many questions remain unanswered. How do the different senses interact? Do people react differently to movies if they are simultaneously exposed to contradictory smells? Will I experience less stress at work if disturbing odors are replaced by more pleasant ones?
Everyday help for people with impaired sensory perception
Many of the neurological processes involved in taste and smell perception are unconscious. With the support of machines, it might be possible to enhance peoples conscious awareness of their environment, and hence enable them to respond more appropriately to possible risks and dangers. The challenge lies in designing machines capable of recording and interpreting human sensory perceptions and transforming them into digital form. The Campus of the Senses addresses precisely these topics.
The Campus of the Senses in Erlangen adds new sense to the digital transformation of businesses
Established companies and startups in almost any sector of business are invited to work together with the Campus of the Senses in Erlangen. With the support of research partners, they can use the facilities to develop new methods and technologies for collecting and interpreting empirical data on the human senses and sensory perceptions, including the development of sensory aids and the analysis of human responses to sensory stimuli.
Human-centered research in Erlangen
The planned infrastructure of the Campus of the Senses in Erlangen consists of three laboratories, each focusing on a different area of research, coordinated by a central office. Scientists with expertise in many different areas, including engineering, medicine, chemistry and neuroscience, can work here hand in hand to build knowledge, develop interdisciplinary expertise, and promote technology transfer in the field of sensory research and development. This will create new opportunities for scientific leadership: From the development of intelligent sensors and algorithms to extended man-machine interfaces and multi-sensory systems for stimulation.
The long-term goal of the Campus of the Senses in Erlangen is to secure Germanys competitiveness by reinforcing its pioneering, international role in the field of the digitalization of the senses.
The campus will be built up over a period of five years, during which the central office will be established and the various laboratories and the technical infrastructure will go into operation. More importantly, a platform for joint creative research projects will be established to allow new methods and technologies to be developed beyond the confines of traditional scientific disciplines.
The Campus of the Senses in Erlangen is a joint initiative of the Fraunhofer Institutes IIS and IVV in cooperation with Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU). The kick-off will be held at Fraunhofer IIS in Erlangen on September 15, 2017.
Should you have questions or require further information, please feel free to contact us. For current and archived news and events, please visit www.iis.fraunhofer.de/press. Kind regards, Thoralf Dietz, Head of Corporate Communications
- 30 August 2017 EvolvaEvolva
announced in its half year results further details of its
future intended strategic direction to aggressively grow
product revenues and accelerate the path to a cash flow
break-even position. In order to exploit the full potential
of its own products in various applications and geographies,
the company will enter commercial collaborations with market
leading companies in addition to selected direct sales. It
will also maintain a capital-light manufacturing strategy
and continue to strengthen its unique and highly
differentiated technological capabilities. Together, we
believe these elements will generate significant shareholder
1st Half Qtr 2017 Sales
- Haifa, Israel August 17,
2017 - In First Half 2017: Sales grew 15.8% to a record US$
646.1 million with a Pro-forma
constant currency growth of 6.1%
McCormick & Company Inc. (NYSE: MKC), a global leader in flavor, today announced that it has signed a definitive agreement to acquire Reckitt Benckisers Food Division (RB Foods) from Reckitt Benckiser Group plc (RB) for $4.2 billion, subject to certain customary purchase price adjustments.
Sensient Flavors & Fragrances Group 1st Half 2017 Sales - Milwaukee, July 20, 2017 - The Flavors & Fragrances Group reported revenue of $185.6 million and $209.5 million in the second quarters of 2017 and 2016, respectively. Operating income was $28.5 million, in the quarter compared to $35.5 million in last years quarter. The results from last years second quarter included a $2.7 million benefit from the sale of an import right. The Group was also impacted by operational issues related to the wind-down of restructuring activities which were largely completed during the quarter. Foreign currency translation reduced revenue and operating income by approximately 2% and 1%, respectively, in the quarter.
In the first six months of 2017, the Flavors & Fragrances Group reported revenue of $372.4 million compared to $408.0 million in the first six months of 2016. Segment operating income was $57.3 million in the first six months of 2017 and $63.1 million in the first six months of 2016. Foreign currency translation reduced revenue and operating income by approximately 2% and 1%, respectively, in the first six months of 2017.
Givaudan 2017 Half year results - 20 July 2017 - Givaudan Group sales for the first six months of the year were CHF 2,483 million, an increase of 2.3% on a like-for-like basis and 6.4% in Swiss francs. Fragrance Division sales were CHF 1,137 million, an increase of 0.1% on a like-for-like basis and 0.4% in Swiss francs. Flavour Division sales were CHF 1,346 million, an increase of 4.4% on a like-for-like basis and 12.0% in Swiss francs. Net income for the first six months of 2017 was CHF 384 million compared to CHF 368 million in 2016, an increase of 4.5%. This results in a net profit margin of 15.5% versus 15.7% in 2016. Basic earnings per share were CHF 41.70 versus CHF 40.00 for the same period in 2016.
Givaudan to acquire Vika B.V. - 11 July 2017 - Givaudan today announced that it is acquiring Vika B.V. to strengthen its portfolio of natural dairy solutions. Vika B.V. offers a range of natural dairy ingredients, fonds and stocks, as well as meat and plant based extracts to customers in the food and beverage industry. With headquarters in the Netherlands, Vika has also facilities in Belgium, the UK, and New Zealand, employing globally over 200 employees. While terms of the deal have not been disclosed, Vikas business would have represented approximately EUR 64 million of incremental sales to Givaudans results in 2016 on a proforma basis. Givaudan plans to fund the transaction from existing resources. The planned acquisition remains subject to formal approvals from the relevant antitrust authorities. The transaction is expected to close in the second half of 2017.
Neil Goldsmith is out as CEO and Board member of Evolva - 6 July 2017 Evolva today announces the departure of CEO Neil Goldsmith and his succession by the current Chief Operating Officer (COO), Simon Waddington. Since co-founding Evolva, Neil Goldsmith has been instrumental in Evolvas development over the last thirteen years, moving the company from a pharmaceutical oriented biotech start-up to a listed business developing and selling specialty ingredients for health, wellness and nutrition markets. Neils entrepreneurial approach has led to the launch by Evolva of products such as nootkatone and resveratrol, and the advancement of best-tasting stevia products to an anticipated launch in 2018, as communicated earlier this year.
Evolvas Board and executive management have recently determined that the near-term focus needs to be on growing the market opportunity for Evolvas products and delivering attractive margins. This more focused approach is not a natural fit with Neils entrepreneurial strengths, something recognised by both Neil and the Board. As a consequence Neil and the Board have mutually agreed that Neil will step down as CEO and member of the Evolva Board with immediate effect.
Neil will be succeeded by Simon Waddington, currently COO of Evolva. Simon had previously been the CEO of Abunda Inc. until its acquisition by Evolva in 2011 upon which he joined the management team. His background and experience is ideally suited to the next phase of Evolvas evolution.
Firmenich to Acquire Agilex Fragrances - Geneva, Switzerland, June 14th, 2017 Firmenich today announced that it is acquiring Agilex Fragrances, a leading fragrance company in North America serving mid-sized customers. Headquartered in Piscataway, New Jersey, U.S.A, Agilex Fragrances is recognized for its impressive track record in designing creative fragrances, as well as its industry-leading supply chain with best-in-class speed-to-market. Furthering its operational excellence, the Group recently launched a new, state-of-the-art manufacturing center in Somerset County, New Jersey with highly automated and flexible processes. I am delighted to be welcoming Agilex Fragrances within the Firmenich Group, said Patrick Firmenich, Chairman of the Board, Firmenich. With their established customer base, recognized best-in-class service levels and proven operational excellence for mid-sized customers in North America, they perfectly complement our Fragrance business. By joining the Firmenich Group, with its global reach and cutting edge creativity and research, we will take our company to new heights, commented Ray Hughes, CEO, Agilex Fragrances. Our shared ambition is to design unique fragrances for our customers while furthering our industry-leading agility and speed-to-market.
Agilexs fit-for-purpose business model is a winning blueprint to serve mid-sized businesses, combining proprietary, tailored solutions with an agile service model, added Gilbert Ghostine, CEO Firmenich. I look forward to seeing how our global creativity and innovation capabilities, as well as, consumer understanding will open up new opportunities for Agilex and their customers.
Upon closing, Agilex Fragrances will be operating as a stand-alone entity and will continue to design world-class fragrance solutions for mid-sized customers. With the new manufacturing centers latest automated compounding technology and flexible processes, Agilex Fragrances will take its innovation and turnaround times to new levels of excellence.
Financial terms of the deal have not been disclosed. The completion of this transaction is subject to clearance by the relevant regulatory authorities and is expected to close prior to year-end 2017.
Firmenich appoints Julien Firmenich as Head of Ingredients - Geneva, Switzerland, June 12th, 2017 irmenich is pleased to announce the appointment of Julien Firmenich as Vice President Sales, Ingredients. In this role, he will lead the Ingredients Business Unit with a focus on breakthrough innovation, creativity and long term value creation. Based in Geneva, he will report directly to Armand de Villoutreys, President of Perfumery & Ingredients effective July 1st.
Frutarom 1st Qtr 2017 Sales - Haifa, Israel May 24, 2017 - Frutaroms sales in the first quarter of 2017 rose 17.4% to a record US$ 302.5 million compared with US$ 257.7 million in the parallel period, reflecting 5.3% year-over-year growth on a pro-forma and constant currency basis. Changes in the exchange rates of currencies in which the Company operates as against the US dollar had a 0.4% negative impact on sales growth in pro-forma terms compared with Q1 2016. Sales for Frutaroms core activities (Flavors activity and Specialty Fine Ingredients activity) rose 17.7% in Q1 2017 to reach a record level US$ 283.5 million compared with US$ 240.8 million in the same quarter last year, reflecting 6.6% year-over-year growth on a pro-forma and constant currency basis. Changes in exchange rates had a negative 1.0% impact on results in pro-forma terms. Sales for Flavors rose 20.3% in Q1 2017 to reach US$ 219.4 million in Q1 2017 as against US$182.4 million in Q1 2016, reflecting 6.6% year-over-year growth on a pro-forma and constant currency basis. Currency effects negatively impacted results in pro-forma terms by 0.9%. Sales for Specialty Fine Ingredients rose 10.8% to US$ 66.8 million in Q1 2017 compared with US$ 60.2 million in Q1 2016 and reflect 7.6% year-over-year growth on a pro-forma and constant currency basis. Currency effects negatively impacted sales by 1.3% in pro-forma terms. In Q1 2017 Frutarom achieved record quarterly results in sales, gross profit, operating profit, EBITDA, net income, earnings per share and cash flow from operating activities. These record results were achieved thanks to the profitable internal growth combined with the acquisitions made and the beginning of contributions from the merger activities and efficiency measures. Gross profit for core businesses (which include the Flavors activity and the Specialty Fine Ingredients activity) rose 17.1% to reach US$ 111.6 million (gross margin of 39.4%) in Q1 2017 as compared with US$ 95.3 million (gross margin of 39.6%) in Q1 2016. Adjusted for non-recurring expenses, gross profit for core businesses rose 16.1% to reach US$ 112.4 million (gross margin of 39.6%) as compared with US$ 96.8 million (gross margin of 40.2%) in Q1 2016. Operating profit for core businesses rose 50.1% to reach US$ 44.8 million (operating margin of 15.8%) in Q1 2017 as compared with US$ 29.9 million (gross margin of 12.4%) in Q1 2016. Adjusted for non-recurring expenses, operating profit for core businesses rose 23.8% to reach US$ 45.6 million (operating margin of 16.1%) as compared with US$ 36.9 million (operating margin of 15.3%) in Q1 2016.
Senomyx Confirms Previously Announced Results of 2017 Annual Meeting - May 22, 2017 - Senomyx, Inc. today confirmed that Senomyx shareholders voted in accordance with the Companys recommendation to re-elect the full Board at the Companys 2017 Annual Meeting of Shareholders (Annual Meeting) held on May 11, 2017. The Concerned Shareholders and Nominees of Senomyx (CSNS) group has acknowledged that a quorum was present at the 2017 Annual Meeting and that the Companys nominees were duly re-elected to the Board. The CSNS group has withdrawn its nominations and proxy contest effective immediately, and has agreed to a customary three-year standstill with the Company.
Senomyx - Results of 2017 Annual Meeting - May 17, 2017 - The Company Believes All Board Director Nominees were Duly Reelected. Dissident Shareholders Attempted to Subvert the Election by Intentionally Breaking Quorum. Senomyx to Pursue Legal Action to Affirm Election Results.
Takasago Full Year 2016-2017 Sales - May 15, 2017 - Takasago sales declined 3.5% to ¥ 136,764 million from ¥ 141,660 in the prior year ending March 31. Net income increased 29.7% to ¥ 6,327 million from ¥ 4,880 million in the prior year.
Symrise 1st Qtr 2017 Sales - May 9, 2017 - The Symrise Group generated sales of € 765.2 million in the first quarter (Q1 2016: € 731.8 million). This represents an increase of 4.6 % in reporting currency compared to the first quarter of 2016. Adjusted for portfolio effects, in particular the sale of Pinova Inc. in December 2016, and for exchange rate effects, Group sales increased organically by 5.3 %. The Scent & Care segment achieved sales of € 333.2 million in the first quarter (Q1 2016: € 344.3 million). Due to the sale of Pinova Inc. in December 2016, sales decreased by 3.2 % compared to the prior-year quarter. Adjusted for portfolio effects from the Pinova sale, the segment recorded organic growth of 1.1 %. After adjustment for the Pinova portfolio effect, the Aroma Molecules division posted the strongest first-quarter sales growth within the Scent & Care segment. Growth drivers were in particular the high demand for fragrance ingredients and menthol. The Flavor segment, which includes aroma applications, generated sales of € 270.2 million (Q1 2016: € 250.2 million). This represents an increase of 8.0 % as compared to the prior-year quarter. Organic growth stood at 8.8 %. The Nutrition segment, which includes the Diana division, with applications for foods, pet food and baby food as well as probiotics, achieved strong growth and a 17.8 % increase in sales to € 161.8 million (Q1 2016: € 137.3 million). Excluding portfolio effects, the segment experienced an organic sales increase of 9.6 %.
IFF 1st Qtr 2017 Sales - May 9, 2017 - Reported net sales for the first quarter totaled $828.3 million, an increase of 6% from $783.3 million for the first quarter of 2016. Excluding the impact of foreign exchange, currency neutral sales increased 7% over the prior year, including approximately five percentage points related to our recent acquisitions. Reported operating profit for the first quarter was $137.4 million versus $169.9 million reported in 2016. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted operating profit grew 3% as acquisitions, volume growth, and cost savings initiatives more than offset unfavorable price to input costs as well as unplanned expenses, including unfavorable manufacturing variances, bad debt, a product recall and a litigation loss. Net income declined 2% to $115.8 million. Fragrances Business Unit - On a reported basis, sales increased 3%, or $11.3 million, to $422.1 million. Currency neutral sales also improved 3% led by growth in Fine Fragrances, Fabric Care and Fragrance Ingredients. Fine Fragrances improved 10% on a reported basis and on a currency neutral basis, inclusive of additional sales related to the acquisition of Fragrance Resources. Consumer Fragrances increased 1% on a reported and 2% on a currency neutral basis, principally driven by the additional sales related to the acquisition of Fragrance Resources and low single-digit growth in Fabric Care. Fragrance Ingredients grew 1% on a reported basis and 2% on a currency neutral basis. Fragrances segment profit decreased 8% on a reported basis and 6% on a currency neutral basis, as volume growth and the benefits from productivity initiatives were more than offset by unfavorable price to input costs, as well as several unplanned expenses. Flavors Business Unit - On a reported basis, sales increased 9%, or $33.7 million, to $406.2 million, while currency neutral sales grew 10% with broad-based organic growth across all regions, as well as the contribution of sales related to the David Michael acquisition. Flavors segment profit grew 7% on a reported basis and 12% on a currency neutral basis, led by volume growth, the benefits from productivity initiatives and the contribution of the David Michael acquisition.
Senomyx, Inc. Proxy - Annual Meeting is May 11, 2017 - As control of the Senomyx Board of Directors is being challenged by a group of Dissident Nominating Stockholders (which dissidents have purchased less than 0.00001%, of Senomyx outstanding common stock) it should be an interesting meeting. Senomyx has been a pioneer in our scientific knowledge of taste and odor receptors - as well as developing sweetness and savory taste and cooling modulators.
Sensient 1St Qtr 2017 Sales - Milwaukee, April 26, 2017 - For the 1st Qtr 2017, the Sensient Flavors & Fragrances Group reported revenue of $186.9 million, a decrease of approximately 5.8% from the $198.5 million in 2016. 1st Qtr Operating income increased to $28.8 million in 2017, from $27.6 million in 2016. Certain restructuring and other costs ocurred in this years first quarter principally related to non-cash losses from the divestitures of a European savory ingredient facility and certain related business lines, and the Companys European Natural Ingredients business, which primarily sells dehydrated vegetables. It should be noted that the above sales figures may include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables, which historically have been about 18%+ of reported sales.
Givaudan 2017 1st Qtr Sales - Geneva, 11 April 2017 - In the first three months of 2017, Givaudan recorded sales of CHF 1,242 million, an increase of 3.5% on a like-for-like basis, and 7.7% in Swiss francs compared to the previous year. The Fragrance Division recorded sales of CHF 576 million, a growth of 2.1% on a like-for-like basis and an increase of 2.6% in Swiss francs. The Flavour Division reported sales of CHF 666 million, a growth of 4.8% on a like-for-like basis and an increase of 12.6% in Swiss francs. Including Spicetec, acquired in August 2016 and Activ International, acquired in January 2017, the growth was 14.1% in local currency.
Huabao International Holdings Limited - April 10, 2017 - Huabao International Holdings Limited (the Company) announced the approval of the spin-off of Huabao Flavours & Fragrances Co. Ltd. Huabao Flavours & Fragrances Co. Ltd., a 90.21% indirect non-wholly owned subsidiary of the Company, will have a separate listing of the shares of the Spin-off Company on The Shenzhen Stock Exchange.
IFF Acquiers PowderPure - April 10, 2017 - International Flavors & Fragrances announced that it had acquired Columbia Phytotechnology LLC, a/k/a PowderPure on April 7, 2017. Founded in the early 2000s and based in Oregon, PowderPure utilizes its patented Infidri drying technology to create all-natural food ingredients by eliminating water while leaving the taste, nutrition and color matrix intact. Using minimal processing, PowderPure currently focuses on whole fruits and vegetable powders, juice powders, as well as other specialty products. Financial terms of the deal have not been disclosed.
Memorium - Barney J. Kane
- Bernard (Barney) James Kane, Jr.
passed away at his home in Atlantic Beach, Florida on
Monday, March 27, 2017.
Flavor & Fragrance Top Companies - Revised Final Estimates for Years 2011-2015 as of March 14, 2017
Frutarom Full Year 2016 Sales - Haifa, Israel March 23, 2017 - Frutarom's 2016 sales rose 31.4% to a record US$ 1,147 million of which we consider US$ 1,1074.4 million to be F&F related. Constant currency growth on a pro-forma basis was 5.3%. Sales for Frutaroms core activities (Flavors activity and Specialty Fine Ingredients activity) rose in 2016 by 35.4% to reach a record US$ 1,067.5 million compared with US$ 788.5 million last year, reflecting constant-currency growth on a pro-forma basis of 5.9%. Sales in the field of Flavors in 2016 as reported in US dollars rose 39.3% to reach US$ 846.5 million (compared with US$ 607.5 million the previous year), reflecting constant-currency growth on a pro-forma basis of 6.1% compared to 2015. pro-forma basis by 5.3%. Frutaroms reported sales in fourth quarter 2016 rose 28.1% to reach a Q4 record of US$ 289 million compared with US$ 225.6 million in the same quarter the previous year. Sales for Frutaroms core activities (Flavors activity and Specialty Fine Ingredients activity) in fourth quarter 2016 rose 30.4% to reach a record US$ 267 million compared with US$ 204.8 million in the parallel quarter last year. Sales in the field of Flavors in fourth quarter 2016 as reported in US dollars rose 36.9% to reach US$ 214.8 million compared with US$ 156.9 million the previous year. Sales in the field of Specialty Fine Ingredients in fourth quarter 2016 as reported in US dollars rose 11.5% to reach US$ 53.9 million compared with US$ 48.3 million the previous year.
Mane - Full Year 2016 Sales increase - March 14, 2017 - Mane achieved sales of € 1,058 million (+11.7%) in 2016 vs € 947.6 million in 2015, which translateS to USD $1,172 million for the year 2016 (at an average exchange rate of 1 Euro = 1.1073 U.S. $). Sales growth was +14.4% in local currencies. (personal communication).
Symrise reports strong sales and earnings growth in 2016 - March 14, 2017 - Symrise benefited from robust demand across all regions and segments in 2016. Sales increased by 12 % year-on-year in reporting currency to € 2,903.2 million (2015: € 2,601.7 million). In local currencies, the increase amounted to 16 %. Normalized net income grew to € 265.9 million (2015: € 246.8 million) which represents an increase of 8 %.
Excluding portfolio effects from acquisitions in the areas of fragrances and nutrition and from the divestment of Pinovas industrial activities, organic sales growth in local currency amounted to 8 %. As a result, Symrise posted substantially stronger growth than the relevant market for flavors and fragrances, which grew around 3 % for 2016 according to market estimates. The activities of the former Flavor & Nutrition segment are now carried out by two separate segments. The Flavor segment includes applications for beverages, savory products, and sweets. The Nutrition segment comprises the Diana division with the application areas of food, pet food, Aqua and Probi. Scent & Care continues to combine the areas of fragrances, cosmetic ingredients and aroma molecules. Fragrances, with its application fields of fine fragrances, personal care, oral care and home care, was reorganized into global units in 2016.
Sales in Scent & Care increased from € 1,073.7 million to € 1,311.3 million. This represents a plus of 25 % in local currency. At reporting currency, sales grew by 22 %. Excluding the effects from Pinova, sales were up 5 % in local currency.
Sales in the Flavor segment increased by 4 % to € 1,015.9 million (2015: € 980.2 million). In local currency, sales grew by 10 %.
In total, combined F&F sales from the Flavor segment and Scent & Care were 2,089.6 million euros.
Robertet Full Year 2016 Sales - February 24, 2017 - The Board of Directors of Robertet met in Grasse on 22 February 2017 under the chairmanship of Philippe Maubert and reviewed the Group's activity and provisional results for the financial year 2016. Consolidated revenue for the year ended 31 December 2016 was € 468 million, an increase of 7.6% compared to 2015. This turnover was 85% outside France and is growing in Europe, South America and Asia. The Raw Materials (+5%), Perfumery (+10 3%) and Flavor (+6.7%) divisions are all growing. Consolidated net profit, unaudited, is in the order of € 41 million, an increase of 13%, higher than forecast. Activity at the beginning of 2017 is well oriented, growing more than in the second half of 2016.
IFF Full Year 2016 Sales - February 15, 2017 - IFF's full year net sales for 2016 were $3,116.4 million an increase of 3.1% over 2015. 4th Qtr net sales increased 6.6% to $762.6 million. Currency neutral sales increased 5% over the prior year, including approximately two percentage points related to recent acquisitions. On a reported basis, full year Flavor sales increased 4%, or $53.6 million, to $1.5 billion, while currency neutral sales grew 6% driven by growth in all categories, and the contribution of sales related to the Ottens Flavors and David Michael acquisitions. On a reported basis, full year Fragrance sales increased 3%, or $39.6 million, to $1.6 billion, while currency neutral sales improved 4%, with two percentage points of growth contribution from the organic business and two percentage points related to the acquisition of IFF | Lucas Meyer Cosmetics.
William J. Bill Downey Jr. has passed away - January 30, 2016 - Bill was a pioneer of the Society of Flavor Chemists, and was President in 1966/67 and was an active FEMA Board member. He will be remembered not only as a creative flavorist, but as a scientist that helped lay the foundation of the modern flavor & fragrance industry. Above all he was a Quintessential Gentleman that helped all that knew him.
Takasago 9 Month 2016-2017 Sales - February 13, 2017 - Takasago 9 Month sales for the period ending December 31, 2016 were ¥ 105,560 million, a decrease of 2.0% over the prior year period. Operating income increased 12.3% to ¥ 6,916 million. Net income increased 22% to ¥ 6,199 million.
Sensient F&F Full Year 2016 Sales - Milwaukee, Feb. 09, 2017 - For the full year 2016, the Sensient Flavors & Fragrances Group reported revenue of $795.3 million, a decrease of approximately 3% from the $819.0 million reported in 2015. Operating income increased to $123.5 million in 2016, from $121.9 million in 2015. The Flavors & Fragrances Group reported revenue of $186.9 million and $201.0 million in the fourth quarters of 2016 and 2015, respectively. Operating income increased approximately 3% to $28.4 million, from $27.5 million in last years fourth quarter. It should be noted that the above sales figures include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables, which historically have been about 18%+ of reported sales. Excluding the "Natural Ingredients" segment, "Tradional Flavor and Fragrance" sales were $653.8 million in 2016, a decline of 2.1% from 667.9 million in 2015.
T. Hasegawa 1st Qtr 2016-2017 Sales Results - February 3, 2017 - Sales for the 1st Qtr 2016-2017 period ending Dec. 31, 2016 were up 3.0% to ¥ 11,542 million compared to ¥ 11,209 million in the prior year. Net income for the period increased 63.5% to ¥ 1,166 million.
Givaudan Full Year 2016 Sales - Geneva, 31 January 2017 - Givaudan Group full year sales were CHF 4,663 million, an increase of 4.2% on a like-for-like basis and 6.1% in Swiss francs when compared to 2015. Fragrance Division sales were CHF 2,230 million, an increase of 5.6% on a like-for-like basis and 6.4% in Swiss francs. Flavour Division sales were CHF 2,433 million, an increase of 3.0% on a like-for-like basis and 5.8% in Swiss francs. The gross margin declined to 45.6% from 46.2% in 2015, mainly as a result of the lower gross margin on the acquired Spicetec Flavors business. Net income increased to CHF 644 million in 2016 from CHF 625 million in 2015, an increase of 3.1%. This results in a net profit margin of 13.8%, versus 14.2% in 2015. Basic earnings per share increased to CHF 69.95 versus CHF 67.89 for the same period in 2015.
Illusions for the Senses with Jeanette
Givaudan acquires Activ International - 17 Jan 2017 - As part of its 2020 strategy to strengthen capabilities in natural flavour solutions to its customers, Givaudan today announced that it has acquired Activ International.
Activ International offers a range of natural and organic flavours, marine extracts, seafood and vegetable based culinary solutions to customers. With headquarters in Bienne (Switzerland), Activ operates from locations in Somerset (New Jersey, USA), Melaka (Malaysia), Mitry-Mory (Paris, France) and Arequipa (Peru), employing globally 170 employees.
While terms of the deal have not been disclosed, Activs business would have represented approximately CHF 40 million of incremental sales to Givaudans results in 2016 on a proforma basis. Givaudan plans to fund the transaction from existing resources.
Firmenich announces historic investment in Geneva - January 11th 2017 Firmenich announces the sale of its La Jonction site in Geneva to the States Pension Fund in support of the Geneva states urban renewal plan. The transaction will enable Firmenich to conduct its largest investment ever in Geneva, to strengthen and expand its global center for innovation and creation. By 2020, the fragrance and flavors company will invest more than 100 million Swiss francs to transfer all its research and development and creation and support functions, from La Jonction to a new Meyrin-Satigny campus of excellence. Today, La Jonction is home to Firmenichs most important research and development center worldwide, employing 500 employees who represent 65% of its Research and 85% of its Intellectual Property creation. The site is also one of its main creation centers bringing together an exceptional team of world-renowned Perfumers and Flavorists. From this center of excellence, Firmenichs creators and researchers work alongside leading sales teams to ensure the global reach of its cutting-edge technologies and creations. Firmenich expects to transfer all activities, including all support functions from La Jonction to Meyrin-Satigny by 2020, once the Campus has been completed.
Senomyx has Announced a Restructuring Plan - On December 2, 2016, Senomyx, Inc. implemented a restructuring plan wherein the Company expects to reduce the Companys work force by 17 full-time equivalent employees. The Company expects to substantially complete the Plan in the fourth quarter of 2016. Under the Plan, with the resulting staff and other expense reductions, the Company expects to reduce its expenses by approximately $4 million on an annualized basis. The Company expects to record restructuring-related expenses totaling approximately $490,000 related to termination benefit costs and other costs associated with the Plan. Implementation of the Plan reflects the shift in the Companys priorities to focus its sweet taste research and development efforts primarily on natural sweet taste modifiers and natural high intensity sweeteners. The Company will continue to invest in its salt taste program utilizing a focused research and development approach. Both the natural sweet program and salt taste program are supported by funding under collaborations. In addition, the Company will continue to invest in its commercialization initiatives including direct sales and activities supporting its collaborators commercialization of the Companys flavor ingredients.
Huaboa Intl. Half Year 2016-2017 Sales - November 28, 2016 - Huaboa International net sales for the half year ending September 30, 2016 were 1,859.5 million Hong Kong dollars (+9.8%) of which about 70% was from the flavors & fragrance related segments. The F&F segments sales decreased 6.1% to 1,302.3 million HKD
Takasago Half Year 2016-2017 Sales - November 17, 2016 - Takasago half year sales for the period ending September 30, 2016 were ¥ 70,691 million, a decrease of 2.0% over the prior year period. Operating income declined 15.4% to ¥ 3,947 million. Net income declined 18.9% to ¥ 3,290 million. Looking at the business segments, net sales in the Flavors Business fell 0.4% year on year, to ¥43,075 million, reflecting the negative impact of the currency fluctuations that offset sales growth for the U.S. subsidiary. In the Fragrances Business, net sales fell 8.7% year on year, to ¥18,205 million, due mainly to the poor performance of the subsidiary in China. In the Aroma Ingredients Business, net sales fell 1.1%, to ¥5,654 million, despite the solid performance of menthol, the mainstay product of this business segment.
T. Hasegawa Full Year 2015-2016 Sales Results - November 16, 2016 - for the 12 months ending September 30, 2016, T. Hasegawa's consolidated net sales were up 0.8% to ¥ 47,591 million compared to ¥ 47,228 million in the prior year. Net income for the period was up 19.5% to ¥ 3,637 million.
Robertet 9 Month 2016 Sales - November 15, 2016 - Robertet has reported 9 month sales of 355.8 million euros (+9.0%). Flavor sales increased 6.3% to 131.3 million euros. Fragrance sales were 130.2 million euros (+10.2%). Raw materials increased 11.1% to 91.5 million euros. Other income was 2.3 million euros.
IFF Reports 9 Month 2016 Results - New York, November 7, 2016 - IFF 9 Month sales increased 2.0% to $2,353.8 million from $2,307.5 million in the prior year. 3d Qtr sales were up 1.6% to 770.0 million. 9 Month fragrance sales increased 3.0% to $1,234.9 million while 9 Month flavor sales increased 1% to $1,118.9 million.
IFF to Acquire Fragrance Resources - New York, November 3, 2016 - International Flavors & Fragrances Inc., a leading innovator of sensory experiences that move the world, today announced that it has entered into an agreement to acquire Fragrance Resources. Founded in 1987, Fragrance Resources is a privately-held, family-owned fragrance company. For almost 30 years, it has distinguished itself with exceptional creative talent and quality service to faster-growing regional customers. The company has facilities in Germany, North America, France, and China. IFFs Vision 2020 business strategy is well-served with this highly-complementary bolt-on acquisition, helping us to win where we compete in key fragrance markets and categories as we look to accelerate growth, said IFF Chairman and CEO Andreas Fibig. Nicolas Mirzayantz, Group President, Fragrances, added Since 1987, the Fragrance Resources team has been a key player in faster-growing specialty fine fragrances an important growth category. The addition of this outstanding company into the IFF family will help us strengthen our position in strategic areas and further penetrate the critical and accelerating regional customer base that we see as the engine of growth.
Symrise 9 Month 2016 Sales - Holzminden, Germany - November 2, 2016 - In the first nine months 0f 2016, Symrise increased its sales by 11 % to € 2,192.3 million (9M 2015: € 1,977.0 million). In local currency, the increase amounted even to 16 %. Both segments had a substantial impact on this strong performance. Purchased activities also contributed to sales, including those of the Pinova Holdings and those of Scelta Umami and Nutra Canada. Even without these additional contributions, the Group achieved significant organic sales growth of 8 % in local currency. Net income for the group was € 193.6 million.
At regional level, Symrise experienced the strongest growth in Latin America, where sales were up 34 % in local currency. The second-strongest region was North America, at 27 %. Asia-Pacific saw a 12 % increase in sales, followed by EAME with an increase of 7 %. Symrise also recorded strong growth in the Emerging Markets, where sales were 17 % higher in local currency, accounting for 43 % of the Groups total sales.
Scent & Care sets the course for the future - Scent & Care, which comprises the fragrance and cosmetic ingredients activities, increased its sales, including contributions from the acquisition of Pinova Group, by 23 % (27 % in local currency) to € 997.2 million (9M 2015: € 812.3 million). The segment posted strong gains even without the Pinova effects, with an organic sales increase by 7% at local currency. Scent & Care reported particularly dynamic demand with cosmetic active ingredients and fragrances.At operational level, Symrise used the third quarter to realign the Fragrances division. In future, rather than being organized by regions, the business with fragrance compositions will be organized globally by area of application, namely Fine Fragrances, Personal Care, Home Care and Oral Care. Moreover, the division is going to consolidate its capacities. Therefore, the US-American mixed operation in Chester, NY, will be closed by the end of the year and a production network at the location in Branchburg, NJ, will be created.
Flavor & Nutrition - Flavor & Nutrition achieved a sales growth of 3 %, and was up 9 % in local currency. The segment benefited particularly from good capacity utilization and strong demand for sweets and culinary applications. Business in the area of pet food also continued to grow. Excluding the purchased activities of Dutch Scelta Umami and Nutra Canada, and adjusted for the sale of the CAP pork specialties last year, the segment also posted strong organic growth with an increase of 10 % in local currency.
Sale of the industrial activities to French manufacturer DRT - In the course of the ongoing optimization of its portfolio, Symrise has decided to sell the industrial activities of the Pinova Holdings. Symrise will continue to operate the holdings former Renessenz entity, which was acquired with the takeover. In the past months, these activities have been fully integrated into the Aroma Molecules division, securing access to strategically important natural ingredients. As a result, Symrise will offer a broader fragrance portfolio for perfume manufacturing going forward, expanding its market leadership in this area. The unit, which operates under the brand name Pinova, with product solutions for technical applications in adhesives, paint, coatings as well as the tire and construction industries, will be acquired by DRT. The purchase price was set to US$ 150.0 million. Estimated sales for 2016 amount to US$ 111.0 million. The transaction is due to close at the end of 2016. The industrial applications have only limited points of reference with Symrises core business. However, Symrise has secured continued access to specific raw materials from renewable sources. DRT and Symrise will cooperate closely in the future under a joint supply agreement.
Sensient F&F 9 Month 2016 Sales - Milwaukee, October 20, 2016 - The Flavors & Fragrances Group reported revenue of $608.3 million (-1.6%) in the first 9 months of 2016. Segment operating income was $95.1 million (+0.8%) in the first 9 months of this year compared to $94.4 million in the prior year. The Flavors & Fragrances Group reported 3d Qtr revenue of $200.7 million, a decrease of -3.2% from $207.4 million reported in last years third quarter. Segment operating income was $32.3 million compared to $31.4 million in the third quarter of 2015.
Firmenich Introduces New Chairman and Board Members - Geneva, Switzerland, October 12th, 2016 - Firmenich announces the election of Patrick Firmenich as Chairman of the Firmenich Board of Directors, after serving as Vice Chairman since 2014 and leading the company as CEO for 12 years between 2002 and 2014. He succeeds Yves Boisdron who is retiring from the Board after a decade in which he significantly contributed to the success of the Company. Building on his prestigious international career in specialty chemicals, Yves Boisdron became Chairman of Firmenich in July 2013, after joining the Board in 2006 and acting as Vice Chairman and Chairman of the Governance & Compensation Committee.
Givaudan 9 Month 2016 Sales - Geneva, 10 October 2016 - In the first nine months of 2016 Givaudan recorded sales of CHF 3,518 million, an increase of 5.1% on a like-for-like basis and 6.7% in Swiss francs compared to the previous year. Fragrance Division sales were CHF 1,699 million for the first nine months of 2016, an increase of 7.5% on a like-for-like basis and an increase of 8.7% in Swiss francs. Including Induchem, the growth was 8.6% in local currency. The sales of Induchem, which was acquired on 31 August 2015, amounted to CHF 19 million for the first nine months of 2016. Flavour Division sales were CHF 1,819 million during the first nine months of 2016, an increase of 3.0% on a like-for-like basis and 5.0% in Swiss francs. Including Spicetec, the growth was 4.7% in local currency. Spicetec Flavors & Seasonings contributed CHF 29 million following the acquisition on 25 July 2016.
Firmenich Full Year 2015-2016 Sales - Geneva, Switzerland, October 5th, 2016 Firmenich posted solid results in its Fiscal Year 2016, which ended June 30th 2016. The Group achieved CHF 3.2 billion in net sales, growing +8.2% in local currency and +6.3% in Swiss Francs.
C&EN Cover Story - The problem with vanilla - After vowing to go natural, food brands face a shortage of the favored flavor - Sep. 12, 2016 - Melody Bomgardner discusses the complexities of vanilla and vanillin production as well as the labeling for consumers.
IFF to Acquire David Michael, Inc. - New York, Sep. 13, 2016 - International Flavors & Fragrances Inc. announced that it has entered into an agreement to acquire David Michael & Company, Incorporated. Founded in 1896, David Michael is a privately-held flavors company headquartered in Philadelphia, PA. The Company is well-known in the industry for its vanilla expertise, strength in the Dairy and Beverage categories, and relationships with dynamic, faster-growing middle-market customers. This bolt-on acquisition of David Michael is another important milestone in IFFs Vision 2020 business strategy, helping us to win where we compete in the worlds largest flavors market as we look to further accelerate growth, said IFF Chairman and CEO Andreas Fibig. The transaction, funded from existing resources, is expected to add approximately $85 million in revenue in 2017. Financial terms of the deal have not been disclosed. The completion of this transaction is subject to clearance by the relevant regulatory authorities and satisfaction of other customary closing conditions. Until the transaction closes, which is expected to occur in the fourth quarter of 2016, David Michael and IFF will operate as separate companies.
Jeanette Andrews - Scent and Sorcery: An Occult Excursion into Sensory Perception - August 22, 2016 - Jeanette explains her fascination with "The Magic Behind the Senses".
Frutarom Half Year 2016 Sales - Haifa, Israel August 15, 2016 - Frutarom's sales in the first half of 2016 increased 37.4% to a record US$ 300.2 million. Constant currency growth in pro-forma terms was 7.2%. Sales from Flavor activities grew 44.3% to a record US$ 224.4 million reflecting a constant currency growth in pro-forma terms of 7.7%. Sales from Specialty Fine Ingredients activities grew 39.1% to a record US$ 57.6 million, reflecting constant currency growth in pro-forma terms of 9.9%. Net income grew by 22.7% to US$ 33.7 million.
Symrise 1st Half 2016 Sales - Holzminden, Germany - August 11, 2016 - In the first half of 2016, Symrise increased its sales by 10 % (local currency: 16 %) to € 1,462.5 million (H1 2015: € 1,330.8 million). Alongside the continuing strong demand in the segments, this development was driven by Pinova Group, which was consolidated this year. Adjusted for portfolio effects, the Symrise Group posted an impressive 8 % plus in sales in local currency. Scent & Care increased its sales by 22 % (local currency: 27 %) to € 667.8 million (H1 2015: € 546.5 million). The segment benefited in particular from high capacity utilization in its fragrance and cosmetic ingredients activities and from strong demand for menthol. Portfolio effects, such as the integration of Pinova, contributed € 110.5 million to Group sales. Even without these effects, Scent & Care achieved significant growth by 7 % in local currency. Flavor & Nutrition achieved a 1 % increase in sales (local currency: 8 %) to € 794.8 million. As in the previous quarter, growth was driven particularly by strong demand for savory and beverage applications as well as pet food.
Takasago 1st Qtr 2016-2017 Sales - August 9, 2016 - Takasago sales for their 1st fiscal quarter ending June 30, 2016 declined slightly (0.2%) to ¥ 36,230 million from ¥ 36,314 in the prior year. Net income decreased 40.9% to ¥ 1,548 million from ¥ 2,619 milllion in the prior year.
IFF 1st Half 2016 Sales - New York - August 8, 2016 - IFF 1st Half sales increased 2.2% to $1,576.8 million from $1,542.4 million in the prior year. 2d quarter sales were up 3.4% to 793.5 million. 1st Half fragrance sales increased 4.0% to $824.8 million while 1st half flavor sales were nearly flat (+0.3%) at $752.0 million. 2d Qtr fragrance sales increased 4.8% to 414 million. 2d Qtr flavor sales were $379.5 million (+1.9%). On a currency neutral basis fragrance sales were up 3% for the half year and flavor sales were up 4%. For the six months ending June 30th, IFF's net income increased 0.7% to $235.3 million.
T. Hasegawa 9 Month 2015-2016 Sales Results - August 5, 2016 - Sales for the 9 month period ending June 30, 2016 were ¥ 35,486 million (+ 3.2%) compared to ¥ 34,402 million in the prior year. Net income for the period increased 15.8% to ¥ 2,604 million.
Evolvas nootkatone enters NIH-sponsored studies to assess its effectiveness against mosquitoes that transmit Zika virus - 25 July 2016 - Evolva has announced that the US National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), will sponsor studies to test Evolvas nootkatone against mosquitoes infected with Zika virus. The study will evaluate nootkatone in multiple formulations against wild type and insecticide-resistant mosquitoes that carry the virus. Zika is one of a number of mosquito-borne viruses, which include both dengue and chikungunya, that are transmitted by Aedes aegypti and Aedes albopictus mosquitoes. The World Health Organisation and the US Centers for Disease Control and Prevention (CDC) have declared the Zika virus a public health emergency. Zika is associated with potentially severe neuropathogenic and neurodevelopmental conditions in humans.
Editors note* - Nootkatone, along with p-Menthane diol (PMD) and Patchouli alcohol are important natural / nature identical flavor & fragrance constituents that are effective against mosquitos and other insects. Takasago's PMD (p-Menthane diol) is already one of the few such CDC recommended insect repellents that are safe and effective for use by pregnant and breastfeeding women.
Sensient F&F Half Year 2016 Sales - Milwaukee, July 21, 2016 - The Flavors & Fragrances Group reported revenue of $407.7 million (-0.7%) in the first six months of 2016. Segment operating income was $62.8 million (-0.3%) in the first half of this year compared to $63.0 million in the first six months of 2015. Foreign currency translation reduced both revenue and segment operating income by approximately 2% in the first half of this year. The Flavors & Fragrances Group reported second quarter revenue of $209.3 million, an increase of 2.3% from $204.6 million reported in last years second quarter. Segment operating income was $35.3 million compared to $32.5 million in the second quarter of 2015. Foreign currency translation reduced revenue and segment operating income by approximately 1% in the quarter. Several of the businesses in the Flavors & Fragrances Group delivered solid results in the quarter, including Fragrances, North America Savory Flavors, and the Beverage businesses in both North America and Europe.
T. Hasegawa Half Year 2015-2016 Sales Results - June 8, 2016 - Sales for the half year period ending March 31, 2016 were ¥ 22,825 million (+ 4.3%) compared to ¥ 21,879 million in the prior year. Net income for the period increased 31% to ¥ 1,543 million.
Givaudan Half Year 2016 Sales - Geneva, 18 July 2016 - Givaudan Group sales for the first six months of the year were CHF 2,334 million, an increase of 6.2% on a like-for-like basis and 6.9% in Swiss francs. Fragrance Division sales were CHF 1,132 million, an increase of 9.7% on a like-for-like basis and 10.7% in Swiss francs. Including Induchem, the growth was 11.0% in local currency. The sales of Induchem, which was acquired on 31 August 2015, amounted to CHF 13 million for the first half of 2016. Total sales for Fragrance compounds (Fine Fragrances and Consumer Products combined) increased by 10.4% on a like-for-like basis. In Swiss francs, sales of compounds increased to CHF 977 million from CHF 892 million.
Givaudan Flavour Division sales were CHF 1,202 million, an increase of 3.0% on a like-for-like basis and 3.5% in Swiss francs. The increased sales were positively impacted by new wins and existing business expansion in the high growth markets of Argentina and Brazil in Latin America as well as India, Indonesia, Thailand and Vietnam in Asia Pacific. The mature markets of Japan, Korea and Australia delivered good results. Europe and Africa rebounded in the second quarter despite challenging economic conditions in Western Europe and Sub-Saharan Africa. North America results were solid against a strong prior year comparable. Dairy, Savoury and Snacks contributed to the overall growth.
IFF and Unilever launch partnership to improve lives of vetiver farming communities in Haiti - July 14, 2016 - IFF and Unilever are partnering to enhance the livelihoods of smallholder vetiver farmers in Haiti. The partnership, "Vetiver Together", aims to sustainably improve food security, increase yields, and diversify income, while working to support womens empowerment and environmental conservation. Haiti produces some of the best vetiver in the world, and many farmers rely on cultivation of the root for their entire source of income. This follows the lead of Firmenich and Givaudan who have previously launched similar progams in Haiti for vetiver in the last few years. Symrise has a similar vetiver program in Madagascar.
Huaboa Intl. Full Year 2015-2016 Sales - June 22, 2016 - Huaboa International total sales for the year ending March 31, 2016 was 3,928.2 million Hong Kong dollars (-9.2%) of which ~82.5% was from the flavors & fragrance related segments. The F&F related segment sales decreased ~4.2% to 3,157.2 million HKD = ~U.S. 407.3 million. Huaboa slightly restated the F&F sales segments for 2014-2015 to reflect the inclusion of the sale of aroma raw materials products.
Givaudan to acquire Spicetec Flavors & Seasonings - May 24, 2016 - As part of Givaudan's 2020 strategy to strengthen its integrated solutions strategies, the company announced the acquisition of ConAgra Foods' Spicetec Flavors & Seasonings business. Spicetec offers a range of flavours, spices and savoury seasoning solutions to customers, primarily in North America and operates from locations in Omaha, Nebraska; Carol Stream, Illinois and Cranbury, New Jersey, employing 280 people. The transaction is expected to add approximately USD 185 million to Givaudans revenue on a full year basis. The total purchase price is USD 340 million, which Givaudan plans to fund from existing resources. As the planned transaction is structured as an asset deal, the amounts paid include tax benefits which are typical with this type of transaction. Final cash consideration will be subject to adjustments for working capital. The planned acquisition remains subject to formal approvals from the relevant antitrust authorities. The transaction is expected to close in the next 60-90 days.
Takasago Full Year 2015-2016 Sales - May 13, 2016 - Takasago sales increased 7.6% to ¥ 141,660 million from ¥ 131,653 in the prior year ending March 31. Net income increased 91.4% to ¥ 4,880 million from ¥ 2,549 million.
Symrise 1st Qtr 2016 Sales - Holzminden, Germany - May 10, 2016 - Symrise 1st Qtr 2015 group sales increased 9.6% in euros (and 14% in local currencies) to € 731.8 million from € 668.0 million in the first 3 months of 2015. Scent & Care sales increased 21.7% to € 344.3 million (or 22% in local currencies) from € 282.8 million in 2015. Flavor & Nutrition sales increased 0.6% to € 387.5 million (or 6% in local currencies) from € 385.3 million in 2015.
IFF 1st Qtr 2016 Sales - New York - May 9, 2016 - IFF 1st Qtr sales increased $8.4 million, or 1.1%, to $783.3 million from $774.9 million in the prior year quarter. 1st Qtr net income declined 7.5% to $118.6 million. 1st Qtr flavor sales declined 1.2% to $372.5 million while fragrance sales increased 3.3% to $410.8 million. Currency neutral Flavor sales grew 4%, including approximately 4 percentage points related to the acquisition by IFF of Ottens Flavors. Flavors growth was led by high-single-digit increases in North America and Latin America and low-single-digit growth in Greater Asia. Currency neutral Fragrance sales improved 8%, including approximately 4 percentage points related to the acquisition by IFF of Lucas Meyer Cosmetics. For fragrances, all regions delivered growth led by a double-digit increase in North America and high-single digit growth in Latin America.
Sensient F&F 1st Qtr 2016 Sales - Milwaukee, April 19, 2016 - The Flavors & Fragrances Group reported first quarter revenue of $198.3 million, a decrease of 3.7% from $206.0 million reported in last years first quarter. Segment operating income was down -9.7% to $27.5 million compared to $30.5 million in the first quarter of 2015. It should be noted that these figures include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables.
Givaudan 1st Qtr 2016 Sales - Geneva, 12 April 2016 - In the first three months of 2016, Givaudan recorded sales of CHF 1,152 million, an increase of 5.8% on a like-for-like basis, and 5.6% in Swiss francs compared to the previous year. In the first three months of 2016, Givaudan recorded sales of CHF 1,152 million, an increase of 5.8% on a like-for-like basis, and 5.6% in Swiss francs compared to the previous year. Total sales of Fragrance compounds (Fine Fragrances and Consumer Products combined) increased by 9.5% on a like-for-like basis. In Swiss francs, sales of compounds increased by 7.4% to CHF 483 million in 2016 from CHF 450 million in 2015. The Flavour Division reported sales of CHF 591 million, a growth of 3.5% on a like-for-like basis and an increase of 3.4% in Swiss francs.
Jeanette Andrews - Thresholds - Unlocking Illusions for the Five Senses and Beyond - March 21, 2016 - Ms. Andrews indeed has demonstrated the magical illusion of perfume. In a recent Interactive Show at the Museum of Contemporary Art Chicago using a combination of research in philosophy, psychology, science and art, Jeanette Andrews drew in the crowd with not only her personality, but kept them there with her mind - astounding the audience by her illusions - Especially when she brought an audience member to the stage and created a scent from the lady's thoughts. What was scarier, was that the audience could smell it, also. And she assures me that "Scent" will continue to be an important theme in her work.
Diversifying Flavor & Fragrance Growth - April 25, 2017 - A Perfumer & Flavorist article by Patrick Mewton, Managing Director, Clotilde Limited and John Leffingwell, President, Leffingwell & Associates - This jointly written article addresses three prevalent industry themes. Firstly, we set into context the nature of the current peak of mergers and acquisitions (M&A) activity that analytically examine its empirical trend and impact on expected value. Secondly, we probe the differing strategic objectives of deal protagonists and investigate its impact on both F&F increasing market concentration and the diversification of corporate strategy away from its traditional flavor and fragrance (F&F) pure product heartland. Lastly, we consider the reasons why some owners may be contemplating a partnership process at this time and highlight the alternative array of strategic options available, some of which may better meet stakeholders' objectives and retain the culture and identity of a business, rather than the alternative of merely being gobbled-up and digested in a takeover.
The 2016/2017 Madagascar Vanilla Crisis - Reports from Aust & Hachmann
Firmenich - Geneva, Switzerland, April 5, 2017 - Firmenich is pleased to announce the appointment of Jerry Vittoria, as Head of Fine Fragrance worldwide, in replacement of Olivier de Lisle, who is retiring effective immediately. Jerry Vittoria, most recently President Fine Fragrance North America has been working closely with Oliver de Lisle to ensure a smooth transition of activities.
Olfaction - A Review - Updated October 13, 2016 - now with active links to most of the original literature
Flavor-Base - 10th Edition - A new version to the world's most extensive database on flavoring materials and food additives.
ESO 2000 (update 2006) - The Complete Database of Essential Oils - More than 4,125 Quantitative Analyses of Essential Oils - for Windows XP, 7, 8, 8.1 (32bit versions only).
Beverage-Master 2011 - With enhanced features for Excel 2007, 2010, 2013 & 2016. The world's leading program for beverage development.
Juice-Master 2011 - With enhanced features for Excel 2007, 2010, 2013 & 2016. The leading program for development of juice containing beverages.
FEMA Interim GRAS List 28 - December, 2016 - FEMA has released the latest interim GRAS list which includes nine new additions.
FEMA No. 4819 is Erythritol, a common food additive often used as a flavor enhancer, processing aid, carrier and as a low calorie sweetener additive.
FEMA 4820 is Purified Damar Gum, useful as a clouding / weighting agent for beverages. Nexira markets purified damar gum under the brand name DAMAR-EZ. The Identification value as reviewed by the FEMA Expert Panel = Oxygenated triterpenes and sequiterpenes 34-39% typically measured as isomers of hydroxydammarenone, dammerene diol, oleanonic aldehyde and urosonic aldehyde and acid and polycadenene 14-17%.
FEMA 4822 is 2,6-Dipropyl-5,6-dihydro-2H-thiopyran-3-carboxaldehyde = 2,6-Dipropyl-3-formyl-5,6-dihydro-2H-thiopyran which has recently been reported in Ciflorette strawberries by R. Cannon et al. at IFF - "In-depth analysis of Ciflorette strawberries (Fragaria× ananassa Ciflorette) by multidimensional gas chromatography and gas chromatography-olfactometry." Flavour Fragr. J., 30, 302319 (2015). This material possesses a green, mango, tropical aroma.
FEMA 4824 is 2-(5-Isopropyl-2-methyl-tetrahydro-thiophen-2-yl)-ethyl acetate. This is an IFF material described as having tropical, strawberry and green pepper organoleptic notes. See WIPO WO 2015/157153 entitled Novel organoleptic compounds and their use in flavor and fragrance compositions, by David O. Agyemang et al. dated 15 October 2015, assigned to IFF. See also, Cannon, Robert J., et al. "Identification, Synthesis, and Characterization of Novel Sulfur-Containing Volatile Compounds from the In-Depth Analysis of Lisbon Lemon Peels (Citrus limon L. Burm. f. cv. Lisbon)." Journal of agricultural and food chemistry 63, 7 (2015): 1915-1931. This latter publication indicates for Orthonasal and Retronasal Evaluations: Orthonasal - citrus like, sulfury; Retronasal - @ 10 ppm - green, cooked strawberries, tropical.
FEMA 4825 is (E)-6-Nonenal = trans -6-Nonenal which has been reported as a "linolenic hardening flavour and melon like" in dilution (Mans H. Boelens & Leo J. van Gemert, Organoleptic Properties of Aliphatic Aldehydes, Perfumer & Flavorist, Vol. 12, October/November 1987 p. 31-43).
FEMA 4829 is 2-Pyrrolidone with a faint and amine-like odor which finds use in a wide variety of products.
FEMA 4832 is 2-(3-(benzyloxy)propyl)pyridine. This material is the subject of Japanese patent application JP,2015-083656, April 15, 2015 (Registration No. JP,5805902,B) by Kazu Miyazawa, Yasutaka Okubo and Kenji Haraguchi assigned to T.Hasegawa. The aroma/taste is slightly herbal, green, it has a natural sense of full aroma in the nutty area, also. It has a somewhat bitter taste when incorporated in high concentrations in foods and beverages. With vegetables, it has a spice-like taste at low concentrations. It improves the taste of food and drink and imparts sweet & salty notes, adds naturalness and enhances richness, especially for the taste of milk and dairy products. The taste enhancing effect is 2 - 10 times stronger than that of the ethyl analog.
FEMA 4838 is Valencene 80 Extract. This material refers to that produced via metabolic engineering by Isobionics (Valencene 80). Isobionics describes the taste as: orange, sweet, woody.
It should be noted that Valencene (ex citrus, e.g. orange) has been assigned FEMA No. 4334.
FEMA 4839 is a mixture of 3- and 4-butyl-2-thiophenecarboxyaldehyde. At the time of this writing, we have no flavor information on FEMA 4839.
FEMA 4867 is (-)-Rotundone = ( (3S ,5R ,8S )-3,8-Dimethyl-5-prop-1-en-2-yl-3,4,5,6,7,8-hexahydro-2H- azulen-1-one). This material is an important odor active constituent of Agarwood (Oud), white & black peppercorns, patchouli oil, Cypriol oil (Cyperus scariosus) as well as various wines that exhibit peppery spicy notes. It also is reported as being important to oak aged spirits. Robin Clery & coworkers have described the odor using GC-O as "woody, peppery, agarwood like". In 2006, Roman Kaiser also reported that rotundone, a compound characterized by a very low recognition threshold value and already long known as a constituent of patchouli oil, is also very important to this part of the agarwood scent.
FEMA 4868 is 4-(4-Methyl-3-penten-1-yl)-2(5H )-furanone. At the time of this writing, we have no flavor information on FEMA 4868.
FEMA 4869 is 4-(l-Menthoxy)-2-butanone = 4-[[(1R,3R,4S)-p-Menthane-3-yl]oxy]-2-butanone = 4-((1R,2S,5R)-2-isopropyl-5-methylcyclohexyloxy)butan-2-one. This is a known compound (Bernal, Pablo, and Joaquín Tamariz. "Synthesis of novel ß-functionalized a-oximinoketones via hetero-Michael addition of alcohols and mercaptans to enones." Tetrahedron letters 47, no. 17 (2006): 2905-2909) which we strongly suspect has refreshing cooling properties (however we can find no odor or flavor description at the time of the writing.)
FEMA 4878 is Cordyceps sinensis fermentation product. Cordyceps sinensis, the Chinese caterpillar fungus or Dongchong-xia-cao in Chinese. It is a special mushroom with a fruiting body formed on caterpillars. C. sinensis is one of the most famous and highly valued medicinal fungi in China, and has also attracted worldwide attention in recent years as a nutriceutical. C. sinensis has been used traditionally in China mainly as a general tonic for a number of health benefits, such as strengthening the lung & kidney functions, restoring health after prolonged sickness, enhancing the physical performance, and improving the quality of life. Recent studies have shown several pharma-cological activities of Cordyceps including antitumor, antiaging, anti-fatigue, anti-inflammation, anti-atherosclerosis and antioxidant activities. As the wild or natural caterpillar fungi as fungus fruiting body-caterpillar complexes are rare and cannot meet the increasing demand, mycelial fermentation has become a major source of Cordyceps materials. While the flavor properties vary by method of fermentation, they are generally from a mild soy protein note to not really pleasant. The Identification value as reviewed by the FEMA Expert Panel = Approximately 25% alpha-glucans; approximately 60-70% maltodextrin and its degradation products with no more than 1.5% protein.
Cool without Menthol & Cooler than Menthol and Cooling Compounds as Insect Repellents - Updated July 28, 2016
Chirality & Odour Perception - Updated August 2, 2016 (now with over 1,424 enantiomers)
The FEMA Flavor Ingredient Library - September 23, 2015 - FEMA has officially launched its online Flavor Ingredient Library, a free and easily accessible resource for researchers, the media and consumers seeking information on substances that are generally recognized as safe (GRAS) for use as flavor ingredients. All the FEMA GRAS lists are available for FREE.
Flavours & fragrances: Recent advances in biotechnology, Speciality Chemicals Magazine, May 2015, pp. 32-35 - by John C. Leffingwell & Diane Leffingwell
Biotechnology - Conquests and Challenges in Flavors & Fragrances, Leffingwell Reports, Vol. 7 (No. 2), 1-11, March 2015 - by John C. Leffingwell & Diane Leffingwell
Identification of the Volatile Constituents of Raw Pumpkin (Cucurbita pepo L.) by Dynamic Headspace Analyses, Leffingwell Reports, Vol. 7 (No. 1), 1-14, January 2015 - by John C. Leffingwell, E.D. Alford, Diane Leffingwell
Wilkinson Sword Cooling Compounds: From the Beginning to Now, Perfumer & Flavorist, Vol. 39, 3 [March Issue], 2014, pp. 34-43 - by John C. Leffingwell & David G. Rowsell
Identification of the Volatile Constituents of Cyprian Latakia Tobacco by Dynamic and Static Headspace Analyses - November 2013 - by John C. Leffingwell, E.D. Alford, Diane Leffingwell & Roger Penn
Aroma Constituents of a Supercritical CO2 Extract of Kentucky Dark Fire-Cured Tobacco - July 2013 - by John C. Leffingwell, E.D. Alford & Diane Leffingwell
Chiral chemistry in flavours & fragrances - March 31, 2011 - a new article by John C. & Diane Leffingwell from the March 2011 issue of Speciality Chemicals Magazine.
Volatile Constituents of the Giant Puffball Mushroom (Calvatia gigantea) - March 26, 2011 - by John C. Leffingwell & E.D. Alford - a new article disclosing the first report of anthranilate esters in a mushroom species.
Cooling Ingredients and Their Mechanism of Action, by John C. Leffingwell in Handbook of Cosmetic Science and Technology, Third edition, André O. Barel, Marc Paye, and Howard I. Maibach, Editors, Pub: Informa Healthcare: New York. Chapter 65, pp. 661-675 (2009) - sign in at Amazon to read the article.
Scents of Precious Woods, an article by John Leffingwell on the odor active enantiomers of the world's most important aromatic woods and modern replacement aroma chemicals.
Chirality & Bioactivity: Pharmacology - an article by John Leffingwell tracing the history & importance of chirality and bioactivity.
Japanese Flavoring Agents as Food Additives - as of April 2015
China Flavor Regulations - On 24 December 2014, The National Health and Family Planning Commission of the Peoples Republic of China (NHFPC) announced that the China National Standards for Food Additives (GB 2760-2014), which includes the latest list of flavoring ingredients, would go into effect on May 24, 2015. This regulation contains a more complete (and updated) list of flavor ingredients than the flavoring regulation GB 29938-2013,which defines the purity standards for flavor chemicals, that took effect June 1, 2014.
FEMA - The FEMA GRAS Status of Flavors Focus on Biotechnology and Other New Methods of Production - Discusses the use of genetically modified organisms (GMOs) in the production of flavoring substances.
IOFI Global (Flavourings) Reference List (GRL) - contains all FEMA, EU Flavis and JECFA materials.
IOFI Natural Complex (Flavourings) Substances (GRL) - contains all FEMA, FDA and COE materials.
Chemistry and the Sense of Smell - This book by Charles Sell provides an account of the totality of fragrance chemistry in one volume. It describes the chemistry of odorous materials, how and why they are produced in nature, how they are produced and used commercially, how they are analyzed and characterized, the chemistry of how we perceive them, and their role in our everyday lives. The final chapter reviews the major intellectual challenges for fragrance chemists and considers the future of the field.
Scent and Chemistry - This book is the long awaited completely revised and extended edition of Günther Ohloff's standard work "Scent and Fragrances: The Fascination of Odors and Their Chemical Perspectives". The prominent chemists Günther Ohloff, Wilhelm Pickenhagen, and Philip Kraft convey the scientist, the perfumer, as well as the interested layman with a vivid and up-to-date picture of the state of the art of the chemistry of odorants and the research in odor perception. The book details on the molecular basis of olfaction, olfactory characterization of perfumery materials, structure-odor relationships, the chemical synthesis of odorants, and the chemistry of essential oils and odorants from the animal kingdom, backed up by ca. 400 perfumery examples and historical aspects.
The Chemistry and Biology of Volatiles (August 2010) - A Fascinating book edited by Andreas Herrmann of Firmenich. Volatile compounds are molecules with a relatively low molecular weight allowing for an efficient evaporation into the air. They are found in many areas of our everyday-life: they are responsible for the communication between species such as plants, insects or mammals; they serve as flavours or fragrances in many food products or perfumed consumer articles.
Natural Products in the Chemical Industry (February 2015). Natural Products in the Chemical Industry (2d Ed.) by Bernd Schaefer of BASF is not a conventional textbook, but rather an invitation to join an entertaining journey that takes you into the fascinating world of natural products. This book features diverse compound classes from a number of areas including fragrances and flavourings. The sections on Ambrox, menthol, ionone and the rose ketones (to mention a few) are fascinating chemistry.
- Background & Organoleptic
Evolva gains exclusive license to develop and commercialise nootkatone globally for pest control - 5 April 2016 Evolva (SIX: EVE) announces that it has just signed a license agreement with the US Centers for Disease Control and Prevention (CDC) that grants Evolva the exclusive worldwide patent rights to develop and commercialise nootkatone for the control of a wide range of disease and virus vectors such as ticks, mosquitoes, fleas, flies, lice, bed bugs, and other biting insects. Evolva announced just recently that it is expanding its nootkatone research focus to include the mosquitoes that transmit Zika and other viruses. This expanded focus is included in the comprehensive Cooperative Research and Development Agreement (CRADA) now in place between Evolva and the CDC. The World Health Organisation (WHO) recently declared Zika virus a global public health emergency. Nootkatone could play an important role in the global response to the spread of Zika. CDC research has shown nootkatone both repels and kills the yellow fever mosquito, Aedes aegypti, and the black-legged tick, Ixodes scapularis which transmits Lyme disease. Nootkatone appears to have a mode of action distinct from that of currently used pesticides and therefore could potentially be valuable for mitigating pesticide resistance in mosquito vectors. Nootkatone already occurs in the natural environment and has an established track record as a flavor and fragrance ingredient, providing attractive characteristics in a number of respects. Nootkatone can be extracted in minute quantities from the skin of grapefruit or the bark of the Alaska yellow cedar (also known as the Nootka cypress), or produced on an industrial scale from brewing via yeast fermentation. Evolva is currently performing all necessary safety and efficacy studies to get nootkatone approved by the US Environmental Protection Agency, initially as a repellent against the blacklegged tick. We now have the tools in place to accelerate the research and commercial development of nootkatone as a next-generation pest control compound against a broad range of biting insects, including the mosquitoes that transmit Zika, chikungunya, dengue, and West Nile viruses, said Evolva CEO Neil Goldsmith.
Frutarom Full Year 2015 Sales - Haifa, Israel March 17, 2016 - Frutarom's sales in 2015 as reported in US dollars grew 6.5% to reach a record US$ 872.8 million, reflecting constant-currency growth over the previous year of 4.9% on a pro-forma basis. Sales for the Flavors activity in 2015 as reported in US dollars rose 3.0% to reach a record US$ 607.5 million compared with US$ 589.8 million the previous year, reflecting constant-currency growth on a pro-forma basis of 5.3% from the parallel period. Currency effects reduced sales on a pro-forma basis by 14.3%. Sales for the Specialty Fine Ingredients activity in 2015 as reported in US dollars rose 16.8% to reach US$ 184.9 million compared with US$ 158.4 million the previous year, reflecting constant-currency growth on a pro-forma basis of 1.5% from the parallel period. Currency effects reduced sales on a pro-forma basis by 6.0%. Reported net income for 2015 rose 9.7% and reached a record US$ 96.1 million.
Symrise Full Year 2015 Sales - March 8, 2016 - Symrise 2015 sales increased to € 2,601.7 million (2014: € 2,120.1 million). This represents growth of 23 % in reporting currency and 18 % at local currency. The Diana Group, which was acquired in mid-2014 and is now fully integrated, contributed sales of € 524.8 million (2014: € 233.9 million). Excluding the contribution of Diana, Symrise also generated strong sales growth with 10 % in reporting currency and 6 % at local currency. Symrise increased its net income in the year under review by 17 % to € 246.8 million (2014 normalized: € 211.6 million). The Scent & Care segment achieved sales of € 1,073.7 million in 2015 (2014: € 980.4 million). This represents an increase of 10 % (4 % at local currency). All business divisions contributed to growth, in particular Aroma Molecules and Cosmetic Ingredients. Symrise benefited above all from strong demand for menthol and cosmetic active ingredients. Flavor & Nutrition experienced a substantial 34 % increase in sales (31 % at local currency) and benefited in particular from strong demand for beverages and savory applications. However, in the Symrise 2016 annual report the Nutrition sales of 547.8 million euros were separated out from the Flavor sales. Flavor sales were therefor 980.2 million euros resulting in the the total F&F sales of the company being 2,053.9 million euros. The Diana Group also achieved strong growth, especially with pet food and aquaculture applications. Excluding Diana, sales increased by 11 % (8 % at local currency). In January 2016 Symrise expanded its fragrance activities with the acquisition of US-based Pinova Holdings, Inc. (including Renessenz). This has given the company access to additional natural ingredients which are used in perfume compositions. Moreover, Symrise has expanded its forward integration in menthol to include cooling substances for oral care.
Robertet Full Year 2015 Sales - March 7, 2016 - Robertet has reported that its net consolidated sales in 2015 totaled EUR 435 million, up 11.6% compared to 2014. At constant rates and structure, turnover was up 7.5%. Turnover achieved was 85% abroad and all geographies are growing. Europe posted strong growth thanks to the good performance of the Commodities Division and Latin America thanks to the recovery of Brazil. The unaudited consolidated net profit should be around 36 million euros, an increase of 22%, higher than expected. Final results will be published no later than 30 April 2016.
Mane - Full Year 2015 Sales increase - March 1, 2016 - Mane achieved sales of € 947.6 million (+23.1%) vs € 769 million in 2014 (personal communication). Sales growth was +15.0% in local currencies.
Takasago 9 Month 2015-2016 Sales - February 18, 2016 - Takasago 9 month sales for the period ending December 31, 2015 were ¥ 107,759 million (+8%). 9 month net income increased 35.9% to ¥ 5,081 millon.
IFF Full Year 2015 Sales - February 10, 2016 - IFF's net sales for 2015 were $3,023.2 million, a decline of 2.1%. Adjusted Currency Neutral Sales increased 5%. Net income for the year declined 0.7% to $411.7 million. 4th Qtr sales declined 5.3% to $715.6 million. Full year Flavor sales declined 1% to $1,443 million. Full year Fragrance sales declined 3.1% to $1,580.2 million.
T. Hasegawa 1st Qtr 2015-2016 Sales Results - February 5, 2016 - Sales for the 1st Qtr 2015-2016 period ending Dec. 31, 2015 were up 7.5% to ¥ 11,209 million compared to ¥ 10,430 million in the prior year. Net income for the period increased 29.2% to ¥ 713 million.
Sensient F&F Full Year 2015 Sales - Milwaukee, Feb. 04, 2016 - The Flavors & Fragrances Group reported revenue of $819.0 million for the year ended December 31, 2015, a decrease of 3.8% from $851.5 million reported in 2014. Operating income increased approximately 1%, to $121.9 million in 2015, from $120.9 million in 2014. The Flavors & Fragrances Group reported fourth quarter revenue of $201.0 million, a decrease of 1% from $203.1 million reported in last years fourth quarter. Operating income increased 6.3% to $27.5 million compared to $25.9 million in the fourth quarter of 2014. The above figures includes items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables. Excluding these items, sales of traditional Flavors & Fragrances in 2015 were $667.9 million vs $715.8 million in 2014 as restated (-6.7%).
Givaudan Full Year 2015 Sales - Geneva, 2 February 2016 - Givaudan Group full year sales were CHF 4,396 million, an increase of 2.7% on a like-for-like basis and a decline of 0.2% in Swiss francs when compared to 2014. Fragrance Division sales were CHF 2,096 million, an increase of 1.9% on a like-for-like basis and a decline of 0.6% in Swiss francs. Flavour Division sales were CHF 2,300 million, an increase of 3.5% on a like-for-like basis and 0.2% in Swiss francs. Net income increased to CHF 635 million in 2015 from CHF 563 million in 2014, an increase of 12.7%. This results in a net profit margin of 14.4%, versus 12.8% in 2014.
Wild Flavors and Specialty Ingredients (WFSI) Full Year 2015 Sales - Chicago, February 2, 2016 - WFSI full year revenues were $2,047 million compared to $1,368 million in 2014. A significant part of the sales increase was due to non-flavor ingredients sales after ADM's acquisition and the Flavor sales portion is not reported.
Huaboa Intl. Half Year 2015-2016 Sales - November 27, 2015 - Huaboa International net sales for the half year ending September 30, 2015 were 1,693.0 million Hong Kong dollars (-21.3%) of which 82.3% was from the flavors & fragrance related segments. The F&F segments sales decrease was -14.3% to 1,394.2 million HKD.
The Inexorable Rise Of Synthetic Flavor: A Pictorial History November 23, 2015 - Nadia Berenstein gives us the story - From vanilla to GMOs, how science shaped the taste of the modern world. Great historical pictures.
Frutarom 9 Month 2015 Sales - Haifa, Israel November 19, 2015 - Frutarom Industries Ltd. reports, attaining in the first nine months of 2015, record levels in sales reaching US$ 647.2 million (+4.8%), and in net income reaching US$ 72.6 million. Frutarom's sales in the third quarter of 2015 rose by 11.3% to reach a quarterly record of US$ 234.5 million compared with US$ 210.8 million in the parallel quarter, reflecting constant-currency growth on a pro-forma basis4 of 4.5% from the parallel period.
Robertet 9 Month 2015 Sales - November 16, 2015 - Robertet has reported 9 month sales of 326.4 million euros (+10.9%). Flavor sales increased 8.9% to 123.6 million euros. Fragrance sales were 118.1 million euros (+11.5%). Raw materials increased 12.7% to 82.4 million euros. Other income was 2.3 million euros.
Takasago Half Year 2015-2016 Sales - November 11, 2015 - Takasago half year sales for the period ending September 30, 2015 were ¥ 72,123 million, an increase of 8.8% over the prior year period. Operating income increased 67.1% to ¥ 4,529 million. Net income increased to ¥ 4,057 million (+202%)
Symrise 9 Month 2015 Sales November 11, 2015 - For the first nine months of 2015, Symrise outperformed the overall market and significantly boosted its earnings. The Group benefited from strong demand in both business segments and in all regions. Symrise increased its sales by 29% to €1,977.0 million (9M 2014: €1,530.0 million) and its earnings before interest, taxes, depreciation and amortization (EBITDA) by 30% to €448.5 million (9M 2014 normalized: €343.8 million). Sales in the Scent & Care segment rose by 10% to €812.3 million (9M 2014: €736.8 million). The Flavor & Nutrition segment increased sales by 47% to €1,164.7 million (9M 2014: €793.2 million) in the first nine months of the year. At local currency, this amounts to a 41% gain. Even without the Diana Group, the segment achieved strong organic growth and increased sales by 13% (9% in local currency).
T. Hasegawa Full Year 2014-2015 Sales Results - November 11, 2015 - for the 12 months ending September 30, 2015, T. Hasegawa's consolidated net sales were up 5.1% to ¥ 47,228 million compared to ¥ 44,917 in the prior year. Net income for the period declined 6.0% to ¥ 3,043 million.
IFF 9 Month 2015 Sales - New York - November 9, 2015 - IFF's nine month 2015 sales were $2,307.5 million (-1.1%). 3d Qtr sales also declined 1.1% to $765.1 million. Nine month net income increased 4.8% to $340.1 million. Nine month Flavor sales increased by 0.7% to $1,108.7 million while nine month fragrance sales declined 2.7% to $1,198.9 million.
Firmenich supports world-class research as it celebrates its 120th anniversary - Geneva, Switzerland, November 2nd 2015 Marking its 120th Anniversary, Firmenich proudly announces the creation of two Next Generation Firmenich programs to advance basic Research in the areas of Neurosciences and Sustainability. Firmenich established these endowed initiatives at leading universities in its two chosen fields, Stanford University in the United States and the Ecole Polytechnique Fédérale de Lausanne (EPFL) in Switzerland.
Sensient F&F 9 Month 2015 Sales - Milwaukee, Oct. 21, 2015 - The Flavors & Fragrances Group reported 9 month sales revenues of $618.0 million vs. $648.5 million in 2014 (-4.7%). Operating income for Flavors & Fragrances declined 0.7% to $94.4 million. 3rd Qtr F&F sales declined 4.3% to $207.4 million. F&F 3rd Qtr operating income was $31.4 million (+2.5%).
Givaudan 9 Month 2015 Sales - Geneva, 9 October 2015 - In the first nine months of 2015 Givaudan recorded sales of CHF 3,296 million, an increase of 2.0% on a like-for-like basis and a decline of 0.5% in Swiss francs compared to the previous year. Including Soliance and the recently acquired company Induchem, the growth was 1.8% in local currencies. Induchem contributed CHF 2 million following the acquisition on 31 August 2015. 3rd Qtr Group sales were CHF 1,112 million (-0.9%) and +3.3% on a like-for-like basis. Fragrance Division sales were CHF 1,563 million for the first nine months of 2015, an increase of 0.7% on a like-for-like basis and a decline of 1.5% in Swiss francs. 3rd Qtr Fragrance sales were CHF 540 million (-2.2%) and +2.0% on a like-for-like basis. Flavour Division sales were CHF 1,733 million during the first nine months of 2015, an increase of 3.3% on a like-for-like basis and +0.4% in Swiss francs. 3rd Qtr Flavour sales were CHF 572 million (+0.4%) and +4.6% on a like-for-like basis.
Firmenich 2014-2015 Sales - Oct. 7, 2015 - For the financial year ended June 30, 2015, Firmenich posted sales of ~CHF 3,008 million, an increase of 1.9% in Swiss francs and 3% in local currencies. For the first time this year, Firmenich issued an integrated report, sharing both its Business and Sustainability Performance, as they go hand in hand, at the core of the Groups vision and strategy.
Frutarom 1st Qtr 2015 Sales - Haifa, Israel May 20, 2015 - Frutarom sales in the 1st Qtr were US$ 194.2 million (+3.0%). 1st Qtr 2015 net profit rose by 17.1% to reach US$ 21.4 million, compared to US$ 18.3 million in the 1st Qtr 2014. Frutarom sales from Flavors activity in Q1 2015 as reported in US dollar terms totaled US$ 133.4 million as opposed to US$ 134.2 million in Q1 2014. Frutarom sales from Specialty Fine Ingredients activity in Q1 2015 as reported in US dollar terms rose 5.5% to reach US$ 43.2 million as opposed to US$ 41.0 million in Q1 2014.
A doctoral defense delayed by injustice - for 77 years - Weve heard of people taking a long time to get their Ph.D.s, but Ingeborg Syllm-Rapoport surely holds the record. More than 8 decades elapsed between the time she entered graduate school studying diphtheria at the University of Hamburg in Germany and her successful thesis defense.
Takasago Full Year 2014-2015 Sales - May 14, 2015 - Takasago sales increased 0.5% to ¥ 131,653 million from ¥ 131,036 in the prior year ending March 31. Net income decreased 15.7% to ¥ 2,549 million from ¥ 3,025 milllion.
IFF 1st Qtr 2015 Sales - New York - May 12, 2015 - IFF 1st Qtr sales increased $4.7 million, or 0.6%, to $774.9 million from $770.2 million in the prior year quarter. Currency neutral sales (formerly referred to as local currency sales) increased 6% reflecting broad-based growth in both businesses and across all regions. Sales to the emerging markets, which now represent 51% of total company sales, grew 9% on a currency neutral basis. 1st Qtr 2015 Flavor sales were $377.1 million (+2.9%). Currency neutral Flavor sales grew 9% in the first quarter with growth across all regions led by double-digit growth in Latin America and North America and high single-digit growth in EAME. Fragrance sales were $397.8 million (-1.5%). Currency neutral Fragrance sales growth was +5%. IFF's 1st Qtr net income was $128.3 million, +20.2% from 2014.
T. Hasegawa Half Year 2014-2015 Sales Results - May 11, 2015 - for the 1st 6 months ending March 31, 2015, T. Hasegawa reported sales of ¥ 21,879 million compared to ¥ 21,696 million in the prior year period, an increase of 0.8%. Half year net income declined 25.2% to ¥ 1,573 million.
Vibration Theory of Olfaction Takes a Hit - May 8, 2015 - An international team of scientists led by University at Albany Distinguished Professor of Chemistry Eric Block, have demonstrated that the vibrational theory of olfaction, one of the two major theories explaining how the sense of smell functions, is not plausible. In a paper entitled "Implausibility of the vibrational theory of olfaction" (Proc. Natl. Acad. Sci. USA 2015, DOI: 10.1073/pnas.1503054112), Block and co-authors found that the human musk-recognizing receptor, OR5AN1, identified using a heterologous OR expression system and robustly responding to cyclopentadecanone (Exaltone®) and muscone, fails to distinguish isotopomers of these compounds in vitro. Furthermore, the mouse (methylthio)methanethiol-recognizing receptor, MOR244-3, as well as other selected human and mouse ORs, responded similarly to normal, deuterated, and 13C isotopomers of their respective ligands, paralleling results with the musk receptor OR5AN1. These findings suggest that Luca Turin's proposed vibration theory does not apply to the human musk receptor OR5AN1, mouse thiol receptor MOR244-3, or other ORs examined. Also, contrary to the vibration theory predictions, muscone-d30 lacks the 1,380- to 1,550-cm-1 IR bands claimed to be essential for musk odor. Furthermore, theoretical analysis shows that the proposed electron transfer mechanism of the vibrational frequencies of odorants could be easily suppressed by quantum effects of nonodorant molecular vibrational modes. These and other concerns about electron transfer at ORs, together with extensive experimental data, argue against the plausibility of the vibration theory. In the May 4th issue of C&EN News Turin responded "...that Block and colleagues did their experiments with cells in a dish rather than within whole organisms. ... and that expressing an olfactory receptor in human embryonic kidney cells doesnt adequately reconstitute the complex nature of olfaction and is not biologically significant". Block and colleagues responded at http://www.pnas.org/content/112/25/E3155.full
Symrise 1st Qtr 2015 Sales - Holzminden, Germany - May 5, 2015 - Symrise 1st Qtr 2015 group sales increased 42.2% in euros (and 33% in local currencies) to € 668 million from € 469.6 million in the first 3 months of 2014. Net income for the period increased 31 % to € 68.0 million vs € 51.9 in 2014. Flavor & Nutrition posted a sales growth of 79.2 % (70 % at local currency) in the first quarter, with sales totaling € 385.3 million (Qtr1 2014 = € 215.0 million). Scent & Care 1st Qtr sales increased by 11.1 % to € 282.8 million (3% in local currencies) vs. 2014 sales of € 254.6 million. Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said: We had an excellent start into the year. The strong growth across all segments and regions shows that we are ideally positioned with our clear strategy and unique set-up. Diana has more than fulfilled our expectations following its integration. But Symrise also achieved new records in terms of growth and profitability with its existing customer base. Despite uncertainties in individual markets, we remain confident for the coming quarters.
IFF Completes Acquisition of Ottens Flavors - New York, May 1, 2015 - International Flavors & Fragrances Inc. (NYSE:IFF), a leading global creator of flavors and fragrances for consumer products, today announced that it has successfully completed the previously announced acquisition of Henry H. Ottens Manufacturing Co., Inc. Financial terms of the transaction were not disclosed.
Sensient F&F 1st Qtr 2015 Sales - Milwaukee, April 20, 2015 - The Flavors & Fragrances Group reported first quarter revenue of $206.0 million compared to the $214.3 million reported in last years first quarter (-3.9%). Operating income increased 0.7% to $30.5 million, compared to $30.2 million in the first quarter of 2014. Beginning in the first quarter of 2015, the results of operations for the Companys businesses in Central and South America, previously reported in the Corporate & Other segment, are now reported in the Flavors & Fragrances segment. Results for 2014 have been restated to reflect these changes. The 2015 and 2014 restructuring and other costs related to continuing operations are reported in the Corporate & Other segment.
IFF to Acquire Ottens Flavors to Strengthen North American Business - New York, April 13, 2015 - International Flavors & Fragrances Inc. announced that it has entered into an agreement to acquire Henry H. Ottens Manufacturing Co., Inc. This acquisition is an exciting one as its the first step in our redefined strategy to win where we compete, said IFF Chairman and CEO Andreas Fibig". "Once completed, the deal will strengthen our operations in North America and enhance our ability to meet the needs of our customers through a differentiated service model geared towards enhancing collaboration and building greater customer intimacy. Were looking forward to welcoming Ottens Flavors employees into the IFF family. The transaction, which will be funded from existing resources, is expected to add approximately $60 million in revenue on an annualized basis and be slightly accretive to IFFs earnings per share in 2015, excluding transaction costs. Financial terms of the deal have not been disclosed.
Givaudan 1st Qtr 2015 Sales - Geneva, 10 Apr 2015 - In the first three months of 2015, Givaudan recorded sales of CHF 1,091 million, an increase of 0.9% on a like-for-like basis, and 0.4% in Swiss francs compared to the previous year. The Fragrance Division recorded sales of CHF 519 million, a growth of 0.3% on a like-for-like basis and an increase of 0.7% in Swiss francs. Including Soliance, the growth was 2.0% in local currencies. The sales of Soliance, which was acquired on 2 June 2014, amounted to CHF 8 million for the first three months of 2015, a double-digit growth when compared to the same period of last year. The Flavour Division reported sales of CHF 572 million, a growth of 1.5% on a like-for-like basis and a slight increase of 0.1% in Swiss francs.
Food for fuel: Biofuels policies cut emissions by cutting food consumption- April 9, 2015 - Biofuels policies rely on cutting food consumption in order to reduce emissions, according to a study published in the journal Science.
Firmenich Appoints New Chief Research Officer - Geneva, Switzerland, March 24, 2015 Firmenich appoints Professor Geneviève Berger as Chief Research Officer, effective July 1st 2015. She will report directly into the Group CEO, Gilbert Ghostine, as a member of his executive team, after most recently serving as Chief Research and Development Officer at Unilever. Professor Berger will be based in Geneva, Switzerland and succeed to Dr. Toni Gautier, who is retiring from the Group at the end of June.
Frutarom Full Year 2014 Sales - Haifa, Israel March 16, 2015 - Frutarom sales for the full year 2014 increased 21.6% to U.S. $819.5 million. Net income for the year increased 37.7% to $87.6 million. Flavors and Specialty Fine Ingredients sales grew to $741.0 million (+16.9%).
T. Hasegawa 1st Qtr 2014-2015 Sales Results - for the 3 months ending December 31, 2014 T. Hasegawa's consolidated net sales were down -3.5% to ¥ 10,430 million compared to ¥ 10,806 in the prior year. Net income for the period declined 34.8% to ¥ 552 million.
Symrise Full Year 2014 Sales - Holzminden, Germany - March 10, 2015 - In the fiscal year 2014, Symrise AG exceeded its targets and substantially expanded its market position. Group sales increased 15.8% to € 2120.1 million from € 1830.4 million in 2013. In local currencies, sales increased 18.3%. 4th Qtr performance was particularly strong, with an increase in Group sales to € 590.1 million vs. 2013 at € 429.2 million (+37.5%). Net income normalized for one-time effects was up 23 % to € 211.6 million. Full year Scent & Care sales were € 980.4 million vs. € 960.4 million in 2013 (+2.1%). Full year Flavor & Nutrition sales increased 31% to € 1139.7 million vs. € 869.9 million in 2013. This includes € 233.9 million contributed from the Diana Group acquisition since July 2014.
Robertet Full Year 2014 Sales - 3 March 2015 - Robertet has reported 12 month revenues of 390.1 million euros (+0.2% from 2013).
Takasago 9 Month 2014-2015 Sales - February 12, 2015 - Takasago's 9 Month sales for the period ending December 31 were ¥ 99,085 million (-0.3%). Net income for the 9 month period declined 3.6 % to ¥ 3,256 million.
IFF Full Year 2014 Sales - New York - February 12, 2015 - Reported net sales for the 2014 full year were $3,088.5 million, up +4.6% from 2013. For the full year, Flavor sales were up +2.4% to $1,457.1 million, while Fragrance sales increased to $1,631.5 million (+6.6%). In the 4th Qtr., IFF net sales increased +4.3% to $756.1 million vs 2013. 4th Qtr. Flavor sales were $356.3 million (+3.9%) while Fragrance sales were $399.8 million (+4.6%). IFF's 2014 net income was $414.5 million, +17.3% from 2013.
Sensient F&F Full Year 2014 Sales - Milwaukee, Feb. 5, 2015 - Sensient's Flavors & Fragrances Group reported full year revenue of $847.0 million and $876.5 million in 2014 and 2013, respectively (-3.4%). Operating income was $119.1 million for the year compared to $120.3 million last year. Foreign currency translation reduced both revenue and operating income by approximately one percent in 2014. In local currency, revenue was off about 1%, and operating income was comparable to 2013. 4th quarter revenue was $201.9 million compared to the $209.0 million in 2013 (-3.4%).
- Full Year 2014 Sales increase -
February 4, 2015 - Mane achieved sales of €
769 million in 2014, up 6.4% from
€ 723 million in 2013. Using the 2014
yearly average EUR/USD Forex exchange rate, 2014 sales in
USD were $ 1,022 million (personal communication).
Dr. Carl Djerassi, renowned scientist, author, and philanthropist, died peacefully, surrounded by family and loved ones, in his home in San Francisco, California on Friday, January 30, 2015. He was 91. His life and career included remarkable productivity and achievement in science, academia, and the arts, as well as personal tragedy in his expulsion from his childhood home following the Nazi Anschluss in 1938. Best known as one of the inventors who patented the key ingredient that led to the development of the first oral contraceptive in 1951. He was also instrumental in creating the first commercial antihistamines in the 1940s. He was the author of more than 1,200 scientific articles.Throughout the 1960s and 1970s, Djerassi continued to do significant scientific work, as a professor in the Department of Chemistry at Stanford University, and as an entrepreneur. He pioneered novel physical research techniques for mass spectrometry and optical rotatory dispersion and applied them to the areas of organic chemistry and the life sciences.
Givaudan Full Year 2014 Sales - Geneva, 29 January 2015 For the full year 2014 Givaudan recorded sales of CHF 4,404 million, an increase of 3.7% on a like-for-like basis and 0.8% in Swiss francs when compared to 2013. Net income was CHF 563 million, up 14.9% year on year. Developing markets grew 7.0%, and mature markets grew 1.1%, both on a like-for-like basis. Fragrance Division sales were CHF 2,108 million, an increase of 3.6% on a like-for-like basis and 1.2% in Swiss francs. Flavour Division sales were CHF 2,296 million, an increase of 3.7% on a like-for-like basis and 0.4% in Swiss francs.
In Memoriam of E. Demp Alford - January 8, 2015 - On January 7th, 2015 Demp Alford passed away at the age of 74 in Louisville KY. A career mass spectroscopist and President of Alford Consulting for the last 20 years, he was well known to those in the flavor & fragrance industry for his unique ability to unravel the most difficult GC-MS analyses. His consulting clients included many well-known companies in the USA, Japan, India and Europe. He was often sought after to assist companies in improving their own GC-MS laboratory techniques.
His generosity in assisting others is exemplified by a note I received from someone he assisted in setting up to be a competitor. "My [GC-MS] consulting business is doing really good and I am so grateful for the opportunity Demp gave me. I think he believed in me before I believed in myself...".
He was an avid gardener, feeding many friends, neighbors and people in need every year. He was known for his strong work ethic, sharp mind and a wonderful sense of humor. He is survived by his wife Donna, his daughter Nikola and three brothers.
Perilla aldehyde (p-Mentha-1,8-dien-7-al) is deleted as an approved flavorant by the EU - October 1, 2015 - On July 23, 2015 EFSA reported that the flavouring substance p-Mentha-1,8-dien-7-al (Perilla aldehyde) has been shown to be genotoxic (damaging to DNA) in a new study on animals, evaluated by EFSAs experts. On October 1, 2015 - in COMMISSION REGULATION (EU) 2015/1760 - p-Mentha-1,8-dien-7-al was removed from the list of approved flavorants.
Eugene S. Buday - September 28, 2015 - Gene Buday, founder of GSB & Associates, Flavor Creators in Kennesaw, Georgia has passed away at age 82. His career, which began in the 1950s, included roles with Felton, Polaks Frutal Works (PFW), Hercules, Synfleur, Fries and Fries, Aromatics International and AFF. Buday established GSB & Associates, Inc, in 1984. He was a certified flavor chemist and past president of the Society of Flavor Chemists. Buday remained active in the industry until his passing. Mr. Buday is survived by his wife, Anne Buday, son, Steven Buday, daughter, Corinne Baskin, and his son in law, Michael Baskin. Buday's services will be private. The family asks that any contributions be sent to Wellstar Community Hospice at Kennesaw Mountain, 200 South Park Place, Suite 202, Atlanta, GA 30339.
Symrise to Acquire Pinova Holdings September 21, 2015 - Symrise is acquiring Pinova Holdings for US$ 397 million. Subject to conditions to be met within 12 months, the seller will receive a premium of US$ 20 million. Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said: "With the acquisition of Pinova Holdings, which owns the operating companies Pinova and Renessenz, we are taking a big step in the growth of our Aroma Molecules business. In view of the increasing importance of natural and renewable raw materials for the fragrance industry, the product range ideally complements our current portfolio. Pinova Holdings has recognized expertise and is very well positioned in that area. In addition, Pinova Holdings will broaden our portfolio of ingredients in Oral Care as well as some attractive new market segments. At the same time, the company will benefit from our global presence and sales structure as well as our R&D expertise." The product portfolio of Pinova Holdings comprises numerous specialized products in three business segments. In the Fragrance Ingredients segment the company is a leading supplier of fragrances derived from natural and renewable raw materials, including products based on wood, orange oils and paper production by-products. Pinova Holdings will thus complement the existing portfolio of Symrise. As a result, the Group will have access to major and high-volume platforms for fragrance ingredients. In the Sensory Ingredients segment, Pinova Holdings main focus is on cooling substances used in combination with menthol-based products to enhance the cooling effect. They are used in the manufacturing of oral care products, chewing gum and beverages, among other areas. Symrise is one of the global leaders in the production of synthetic L-menthol, and with this acquisition is substantially strengthening its competitiveness in this particular field. Pinova Holdings has close customer relationships with leading global companies in the consumer goods industry, including similar to Symrise many long-term strategic partnerships. The company has manufacturing operations at three locations: Brunswick and Colonels Island, Georgia, USA, and in Jacksonville, Florida, USA. In the fiscal year 2014, Pinova Holdings recorded sales of US$ 287 million with a workforce of about 400 employees. In the same period, the adjusted EBITDA amounted to US$ 37.4 million. Subject to regulatory approval, the deal is expected to close at the beginning of 2016. Symrise plans to move forward quickly with the integration of Pinova Holdings, expecting to achieve annually synergy effects worth € 20 million by 2020.