Firmenich Invests In ArtSci As Strategic Growth Partner For Flavours In China
Friday, June 21st, 2019 | 773 Views
Firmenich has announced its strategic partnership with ArtSci Biology Technologies (Hangzhou) Company Limited (“ArtSci”), taking a minority equity stake in this local flavour company in China. Building on Firmenich’s distributor agreement with ArtSci, this investment will further expand the Group’s reach across Central and Western China’s middle-market where ArtSci is strongly established. Headquartered in Hangzhou, in the Zhejiang province, ArtSci specialises in Dairy and Beverages and is known for its agility and speed in servicing mid-sized customers.
“For more than three decades, Firmenich has been deeply committed to investing and growing in China”, said Patrick Firmenich, Chairman Firmenich. “This strategic partnership with ArtSci reinforces our long-term commitment by expanding our reach across China’s middle-market.”
Firmenich has been investing consistently over the last 30 years to expand its footprint and capabilities in this strategic market. Most recently Firmenich launched its largest flavour manufacturing plant in the world in Zhangjiagang, adding to its facilities in Shanghai and Kunming serving its Perfumery and Ingredients Businesses. Last year, it also entered a strategic partnership with Layn Natural Ingredients based in Guangxi, for exclusive access to the industry’s widest range of natural sweeteners, such as monk fruit and stevia. In 2012, Firmenich opened a major Research Center in Shanghai, dedicated to driving cutting edge technologies to best serve its customers in China. Firmenich has a nationwide presence of commercial facilities with application laboratories in Shanghai, Beijing and Guangzhou.