Partnership will strengthen production of fragrance ingredients and expand the Swiss company's global manufacturing footprint
Fragrance creation company Givaudan has signed a joint venture agreement with India-based Privi Speciality Chemicals Limited to strengthen its production capabilities for its global speciality fragrance ingredients.
Through the agreement, a new greenfield production plant will be built in Mahad, a city south of Mumbai, to manufacture small-volume fragrance ingredients of medium to high complexity.
Maurizio Volpi, President of Givaudan Fragrance & Beauty, said: “This joint venture supports our global strategy to further strengthen our manufacturing footprint by also being present in India.
“Privi is not only perfectly positioned to support the region, but also highly skilled in managing the complexity of producing fragrance ingredients of different ranges of volumes.
“This agreement will enable us to evolve our dynamic portfolio of small signature products that enhance the perfumer's palette and give their creations a competitive edge in the market.”
Mahesh Babani, CMD at Privi, said: “We are excited with this opportunity to be partnering with Givaudan to support and expand their production of speciality fragrance ingredients.
“We look forward to showcasing our knowhow and manufacturing expertise as a trusted partner through this strategic joint venture.”
Givaudan will transfer a number of small-volume products from its production facility in Vernier, Switzerland to the newly formed joint venture over the next five years.
This will allow the site in Switzerland to focus resources on key strategic ingredients, said Givaudan.