PARIS — Givaudan has signed a joint-venture agreement with Zhejiang Xinhua Chemical Co. Ltd. for the production of fragrance ingredients in China.
Terms of the deal were not disclosed.
“This joint venture is another step forward in our global strategy to get closer to customers in developing markets. Xinhua is perfectly positioned to partner with Givaudan in Asia-Pacific,” said Gilles Andrier, the Swiss flavors and fragrance supplier’s chief executive officer.
Givaudan said some ingredients currently produced in its existing sites will be transferred progressively to the joint venture over coming years. The firm also is to continue investing in improving its existing sites.