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US based International Flavours & Fragrances Inc (IFF) is investing $50m in its flavours operations in Jakarta, Indonesia, in a bid to ramp up growth in the ASEAN region. The investment will include the establishment of a creative centre on the existing site that will primarily support customers in Indonesia. The company is also building a new manufacturing facility nearby, which will be operational in the second half of 2015.
"The ASEAN markets include 600 million consumers and roughly 240 million are located in Indonesia. Our increased investment in Indonesia strengthens our ongoing strategy to expand our geographic reach and create infrastructure to serve emerging markets, especially those enjoying dynamic growth rates and demographics. IFF has had a long-standing presence in Indonesia, and this additional investment in expanded capacity reflects our long-term commitment to the region,” said Doug Tough, Chairman and CEO of IFF.
In recent years, the IFF has been stepping up investment in developing markets. This includes the opening of a liquid flavours and fragrances manufacturing facility in Singapore and new creative and technical facilities in India, China and the UAE.