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Symrise AG (OJ:SY1) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
After having recently expanded its development centers in Shanghai and Mexico, Symrise has now significantly enlarged its Moscow site. The international fragrance and flavorings manufacturer has added over 500 sq. m to its facilities in the form of new development laboratories for its Sweet, Savory and Beverages business units, as well as a new center for sensory and consumer research.
Symrise has been successfully operating on the Russian market for many years now and has enjoyed disproportionately high growth for the past several years. Thanks to the new modern laboratories, which were officially opened on August 21, nearly all customer inquiries can now be processed on site in Moscow. Symrise shares the facilities with its customers, an arrangement that provides an especially fast and effective means of developing product concepts.
The focus within the Sweet business unit is on the development of sweets and chocolate products - the Russian sweets market is considered within the industry to be one of the most important in the world. Researchers will also be able to conduct on-site applications technology studies for dairy products, which is yet another segment of the Russian market experiencing rapid growth. The Savory unit at the Moscow site has been focused on two large segments for some time now: culinary products and snack items. In the Beverages business, Symrise Russia has been working successfully on product solutions for alcoholic, non-alcoholic and instant beverages.
By opening a new center for sensory and consumer research, Symrise will be able to meet the rising demand for detailed information on consumer desires and preferences in Russia as well. The center will help Symrise better understand the taste preferences of Russian consumers and give the company a head start when it comes to creating innovative product concepts in response to developing demand.
"Few other markets in the world are growing at as rapid a pace as the Russian market for food and flavorings," explains Heiner Schaper, President Flavor & Nutrition EAME. "Russian consumers like trying new products and western European products are highly sought after here. Our sales organization is very good and the relationship that we have to our clients is one hallmarked by a unique spirit of partnership. It is thanks to these attributes that we have enjoyed disproportionately high growth. By expanding our Moscow site, we hope to accelerate this growth still further with an even greater emphasis on local development within the region. With these new facilities and technologies, our outstanding Moscow employees now have the perfect tool to participate in the growth of the Russian market over the long term."
About Symrise
Symrise is a global supplier of fragrances, flavorings and raw materials and active ingredients for the perfume, cosmetics and food industry.
Its sales of €1.27 billion in 2007 place the company among the top four in the international flavors and fragrances market. Headquartered in Holzminden, Germany, Symrise is represented in more than 30 countries in Europe, Asia, the United States and South America.
With more than 40 first patent applications per year, Symrise is one of the most innovative manufacturers on the market. Used by manufacturers of perfumes, cosmetics and foods, our products are an inseparable part of daily life. At Symrise we combine an awareness of consumer trends with cutting-edge technologies, focusing on innovative fashion and lifestyle products that have additional practical value for the consumer. Symrise - always inspiring more.
WKN: SYM999; ISIN: DE000SYM9999; Index: MDAX, TecDAX; Listed: Amtlicher Markt in Frankfurter Wertpapierbörse, Freiverkehr in Bayerische Börse München, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart, Prime Standard in Frankfurter Wertpapierbörse;
