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IFF FORMING FRAGRANCE JOINT VENTURE IN CHINA

This article was originally published in The Rose Sheet

Executive Summary

IFF FORMING FRAGRANCE JOINT VENTURE IN CHINA with Hangzhou Xin'anjiang Perfumery Factory, "One of China's leading and most modern fragrance ingredient manufacturers," IFF announced Jan. 5. IFF holds 80% of the $20 mil. joint venture, called International Flavors & Fragrances (Hangzhou) Co., Ltd., and will be the exclusive seller of its products in countries other than China. The joint venture will use Xin'anjiang Perfumery Factory's plant in Zhejiang Province, about 200 miles from Shanghai, as well as 40 acres of land acquired from the Chinese government, upon which will be built additional manufacturing and warehouse facilities.
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