IFF Plus DuPont N&B Equals $11.2Bn Revenues
"Now it's up to us to look where can we accelerate our portfolio, in which areas and where can we grow the most and deliver good value for our customers,” says CEO Andreas Fibig.
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Firmenich, Givaudan, IFF and Symrise have decoupled from the Fragrance Creators Association, launching their own trade association to focus on providing technical expertise in North American policy matters. “Any advocacy work has to be based on fact,” says Shawn Blythe, president of the Fragrance Science and Advocacy Council, which intends to partner strategically with FCA and other sister groups.
IFF announces preliminary results of more than 99% of votes approving issuing shares pursuant to an agreement that positions it as acquiring DuPont Nutrition & Biosciences under a “reverse Morris trust” transaction. The merger is between DuPont Nutrition & Biosciences and a subsidiary IFF established as a corporate entity to conduct the transaction.
Raw material supplies slowed during January-March period by catastrophic freeze in Texas and shortage of shipping containers partly due to Suez Canal blockage. "We're absorbing $90 million of incremental costs for the full year,” says CFO Ronald Dierker.