Givaudan announced the signing of a joint venture with Zhejiang Xinhua Chemical Co., Ltd for the production of fragrance ingredients in China. Xinhua is a leader in aroma chemical manufacture, with an established history of quality production.
This agreement is an additional step in Givaudan’s strategy to reinforce its position in developing markets to meet the growing demand in the region and improve its competitive position on a selected portfolio of products. Gilles Andrier, CEO, said: “This joint venture is another step forward in our global strategy to get closer to customers in developing markets; Xinhua is perfectly positioned to partner with Givaudan in Asia Pacific.”
Some ingredients currently produced at existing Givaudan sites will be transferred to the joint venture. Transfers will be done progressively over the coming years alongside continued investment in the long-term competitiveness and continuous improvement of existing sites.
Zhejiang Xinhua Chemical Co., Ltd is a key hi-tech enterprise in China, with a history of over 40 years in the chemical industry. The company has 700 employees, two hi-tech development parks, one R&D center and one technology center. Xinhua is both a manufacturer and trader of organic amines, aroma chemicals, hydrogen peroxide, ammonia and other large scale products. For aroma chemicals, Xinhua is one of the biggest manufacturers and suppliers in Asia.
