IFF expands flavours facility in Egypt
IFF says this development is intended to support its regional focus on growth in the Middle East and Africa, and to focus on its key categories in this area.
"The Middle East/Africa region is a critical component of our Vision 2020 strategy," said Andreas Fibig, IFF Chairman and CEO.
"We believe the expansion and upgrade of our Cairo facility will support our efforts to grow in this exciting and dynamic region. The expanded labs will allow us to better serve our Egyptian customers and strengthen our market presence in Africa and the Middle East."
Eye on Egypt
Egypt has an African free trade agreement in place between the top three African economic blocs, the COMESA, SADC and the East African Community.
IFF, which notes it has a longstanding presence in the country, is not the only company active in the beauty and personal care industry to invest in Egypt in recent years.
Henkel announced an investment plan last year of EUR 50 million in the country over the current five year period, while the year before, Schwarzkopf hair care maker spoke openly about its confidence in the strength and sustainability of the Egyptian economy.
In the same year (2015), L’Oréal invested EUR 50 million into its first factory in the country.
Facilities investment
Henkel’s investment programme features a new facility in Cairo, set to act as an export hub for the African markets, focusing on the production of home care products.
“The company aims to transform Egypt into an export centre for African markets,” Henkel Egypt CEO, Ahmed Fahmy said at the time.
IFF notes that its newly expanded Cairo facility has been operational since 1979, with a sales office, creation and applications labs, and flavor production facilities.
The expansion increases IFF’s ability to provide application support across key categories for the region, the fragrance player asserts.
