In Brief: IFF aroma chemical streamlining
This article was originally published in The Rose Sheet
Executive Summary
IFF aroma chemical streamlining: Aroma chemical production at IFF's Union Beach, N.J. plant will be phased out by Dec. 31, 1997, while "smaller capacity" units in Mexico City and Rio de Janeiro are being closed, the company said. The changes, which represent the "final phase" of IFF's plan to "expand and streamline" its worldwide aroma chemical productions, are expected to "result in greater production capacity and operating efficiencies" that will "ultimately increase pretax earnings by $20 mil. annually," the firm stated. IFF will release 220 employees, including 170 at the Union Beach facility, as a result of the closures. In addition, the closings will result in a one-time pretax charge of $50 mil. during the second quarter of 1996. IFF predicted that the streamlining will reduce the firm's earnings per share by 28 [cents], which, compounded with "sluggish retail sales" and "highly competitive conditions" for aroma chemicals, will result in EPS between 54 [cents] and 56 [cents] for the quarter versus EPS of 68 [cents] a year ago...
You may also be interested in...
OCA Applauds Organic Board's Recommendation To USDA: "Outlaw Nanotech"
With a push from the Organic Consumers Association, the National Organic Standards Board is recommending that the use of nanotechnology be strictly prohibited from products certified under the National Organic Program
Beauty Claims Inch Closer To Pharma As Cosmeceutical Sector Expands
Though global market-size estimates differ, analysts at SupplySide West 2010 in Las Vegas agreed that cosmeceuticals remain a promising growth vehicle
Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says