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Business
IFF Mulls Shutting European Plants
by Melody Voith
September 14, 2009
| A version of this story appeared in
Volume 87, Issue 37
International Flavors & Fragrances says it may close its fragrances compounding facility in Drogheda, Ireland, as well as a portion of its fragrance chemical plant in Haverhill, England. The closures would come as part of the firm’s strategy to focus production on high-margin molecules and away from low-priced commodity chemicals. Restructuring would cost IFF approximately $25 million and result in annual savings of $17 million beginning in 2011.
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