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Givaudan

This article was originally published in The Rose Sheet

Executive Summary

Fragrances and flavors supplier stock closed at approximately $312.50 (510 CHF) on its first day of trading on the Swiss Market Index June 8. Givaudan Roure's former parent company, Roche, voted to spin off the company at its May 9 general assembly; each Roche stockholder will receive one share of GIVN. Roche announced the $3.41 bil. transaction in December (1"The Rose Sheet" Dec. 13, 1999, p. 6). The new company, which will be renamed Givaudan, will continue to be headed by CEO Jurg Witmer. Givaudan generated $1.37 bil. in sales in 1999 and estimates it holds 14% of the worldwide flavors and fragrances market

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Givaudan

Annual sales increased 6% to $1.4 bil. (CHF 1=$.585) and net profit improved 14% to $155 mil. Despite growth, fragrance sales dropped 2% in local currencies to $6.4 mil. due to shortfall in consumer products segment and reduction in sales of pharmaceutical raw materials and UV sunscreen filter to Roche, Givaudan says. In June, the fragrance and flavors division was spun off from Roche as an independent company (1"The Rose Sheet" June 19, 2000, In Brief)

Givaudan

Annual sales increased 6% to $1.4 bil. (CHF 1=$.585) and net profit improved 14% to $155 mil. Despite growth, fragrance sales dropped 2% in local currencies to $6.4 mil. due to shortfall in consumer products segment and reduction in sales of pharmaceutical raw materials and UV sunscreen filter to Roche, Givaudan says. In June, the fragrance and flavors division was spun off from Roche as an independent company (1"The Rose Sheet" June 19, 2000, In Brief)

Givaudan Spin-Off From Roche To Be Complete By May

Roche plans to spin off its Givaudan Roure fragrances and flavors division to concentrate on core healthcare divisions, the company announced at an investor conference Dec. 6. The new entity will be independent by the end of May. Roche's board approved the plan Dec. 4.

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