PARIS — Givaudan has broadened its flavors capability in the Middle East with the inauguration Monday of its enlarged technical center and regional offices in Dubai.
“Drawing on an in-depth understanding of local tastes and consumer preferences, the expansion of Givaudan’s facilities in Dubai will bring closer collaboration with customers in creating and applying flavors for the Middle Eastern markets,” the Vernier, Switzerland-based fragrance and flavors supplier said. “The new technical center in Dubai is part of the company’s overall strategy of increasing its sales in developing markets.”
“In close collaboration with our customers, we can now develop new flavors faster and respond immediately to shifting market trends,” said Henning Hartnacke, president of Europe, Africa and Middle East flavors at Givaudan.
As reported, the flavors division in developing markets and all major segments, including beverages dairy and snacks, have been a growth driver for Givaudan, whose third-quarter sales gained 2.6 percent to 1.12 billion Swiss francs, or $1.23 billion at average exchange.
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The company’s mid-term objectives include growing revenues organically between 4.5 percent and 5.5 percent annually, assuming market growth of 2 percent to 3 percent, and continued market-share gains.