The U.S. based International Flavors and Fragrances (IFF) which has developed the well-known brands Calvin Klein, Giorgio Armani, Estee Lauder and Givenchy amongst a wide number of others, has decided to increase investments in Turkey.
One of the world's largest flavors and fragrances producers IFF will soon be investing 50 million dollars into building a second manufacturing facility and Research and Development Center in Gebze.
IFF President and CEO Doug Tough says, "This investment is an indicator of our long-term undertaking in developing markets."
IFF Turkey General Manager Tolga Tanrıöver says that the new production facility, which will be up to 18,000 cubic meters in size, will focus on potential markets in Europe, Africa and the Middle East.
According to the Prime Ministry Investment Agency President İlker Aycı, the first phase of investment will be completed by the second quarter of 2013. "This investment is significant from an added value perspective. By bringing on new teams and high level technical positions for product development and sensory analysis and with training and the relaying of know-how, we will also be providing new qualifications," states Aycı.