The world’s leader in flavours and fragrances, Givaudan of Geneva, is to shed 120 jobs at its savoury flavours plant at Kempthal near Zurich.
This content was published on
1 minute
Givaudan said on Tuesday that it was moving production from Switzerland and Britain to Hungary where it was investing SFr170 million ($165 million) in a new plant to increase productivity.
Hungary was chosen because of its proximity to fast-growing markets in eastern Europe.
Commenting on the cuts in Kempthal, spokesman Peter Wullschleger told the Swiss News Agency that the group had to centralise and modernise because the facility was “too old”.
He added that those employees affected would be offered jobs at other sites or early retirement. There would be no redundancies.
Earlier this month, Givaudan announced a first-half net profit of SFr200 million, more than double that of the comparable period last year (SFr96 million).
Over the next five years, Givaudan aims to expand sales by about 4.5 per cent to 5.5 per cent a year, which is above market growth.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Profit at Givaudan comes with a fine fragrance
This content was published on
Givaudan, which is based near Geneva, said this was helped by returning consumer confidence. The result was broadly in line with analysts’ forecasts. Group sales totalled SFr3.96 billion, with revenues of SFr1.8 billion in the fragrances division and SFr2.14 billion in its flavours business (-3.1 per cent and -3.9 per cent respectively compared with 2008).…
This content was published on
Givaudan, the Geneva-based world leader in flavours and fragrances featured them all at a presentation on trend identification in flavours at one of its research centres near Zurich. While some people might scoff at the idea of making your own noodles from a liquid that comes out of what looks like a small plastic bottle…
This content was published on
It is home to two giants of the flavours and fragrances industry which together account for around 30 per cent of the global market. One is the family-owned Firmenich company, but the world leader is Givaudan, whose aim is to be the dominant industry force both in sales and profitability. Peter Wullschleger, Givaudan’s head of…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.