The Hindu Business Line : Symrise plans to expand capacity

SYMRISE Private Ltd, the Indian arm of the global manufacturer of flavours and fragrances, plans to expand its existing capacity to supply markets in West Asia and South Africa.

Mr C. Venkat, Chief Executive Officer, Symrise, said that another 3,000 tonnes would be added to the existing capacity of 2,000 tonnes to manufacture global fragrances.

The company also plans to add 1,000 tonnes to the existing 1,000 tonnes capacity to manufacture savoury powder for the food industry. The total project cost is Rs 5.5 crore.

He said that the Rs 130-crore company grew by 30 per cent in 2004 over the previous year. The focus of the company is to develop flavours for ice creams, biscuits, confectionery and beverages industries. The fragrances are used mainly for soaps, shampoos and beverages segments.

Mr Venkat said besides developing fragrances and flavours used by the industry, the creative staff - the ones who develop the flavours and fragrances — also predicts trends for five years in fragrances and flavours.

The company was earlier known as Dragoco India Ltd and was set up in 1994 as a joint venture between the German company Dragoco and the Chennai-based Sanmar Group with the former holding 51 per cent of the equity.

In 2003, Symrise was formed with the merger of Haarmann & Reimer and Dragoco both based in Holzminden, Germany. In February 2004, Sanmar exited the joint venture and the Indian company became Symrise Private Ltd.

The company had shifted its facility in Perungudi to its new office and laboratory in a 10-acre plot in Semmancheri on the Old Mahabalipuram Road, in 2002. It had invested about Rs 20 crore in fixed assets and Rs 20 crore in working capital in the new facility.

The company has an 18 per cent market share in the Rs 1,000-crore fragrances and flavours market. Five major players - IFF (International Flavors and Fragrances Inc acquired Bush Boake Allen), Givaudan, Firmenich, Quest and Symrise - dominate 70 per cent of the market. In India, Symrise is second to IFF, he said.

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