Privi Speciality Chemicals, Givaudan to build fragrance ingredients plant
Privi Speciality Chemicals Limited (PSCL), an India-based aroma chemicals manufacturer, and Givaudan will jointly build a greenfield production facility in Mahad, Maharashtra.
In this connection, a joint venture will be created in which Privi Speciality Chemicals will hold a stake of 51%, while the Swiss fragrance manufacturer will own the remaining stake of 49%.
Mahad is already home to the main manufacturing plants of the aroma chemicals manufacturer.
The new production facility will manufacture small-volume fragrance ingredients of medium to high complexity, which are also called speciality ingredients.
Mahesh Babani — CMD of Privi Speciality Chemicals 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 know-how and manufacturing expertise as a trusted partner through this strategic joint venture. Independent of this development we will continue to serve all our key accounts without any incumbrance as per our long-standing relationship & agreements.”
For Givaudan, fragrance ingredients are an important element of its fragrance and beauty business. The joint venture with Privi Speciality Chemicals is expected to support its objective to boost fragrance capabilities in high-growth markets and its commitment to advance manufacturing capabilities as a key part of its long-term strategic vision.
Maurizio Volpi — President of Givaudan Fragrance and Beauty said: “This joint venture supports our global strategy to further strengthen our manufacturing footprint by also being present in lndia. 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.”