Swiss group Givaudan to invest over $80 million in Mexico
Swiss group Givaudan, the world’s leading perfume and fragrance producer, has stated in a press release that it will invest CHF75 million (more than $80 million) for a new extension of its production plant located in the municipality of Pedro Escobedo, in the Mexican state of Querétaro, in order to bolster the group’s expansion in Latin America.
According to Givaudan, the enlarged facility, scheduled to open by the end of 2023, will feature a high level of industrial automation, including automated logistics, enabling it to operate with great precision and efficiency. The expansion is designed to streamline the production of both small and large output volumes, and to serve all of Givaudan’s client categories, from local and regional clients to global ones.
It is worth noting that the new facility will contribute to Givaudan's climate action effort, and meet the strictest environmental, health and safety standards, as set out both globally and locally.
“Investing in our production facilities in Mexico, an important high-growth market for Givaudan, demonstrates our commitment to our clients and is consistent with our strategy and objectives for 2025,” said Maurizio Volpi, president of the fragrances and beauty division for the group. Originally founded in Zurich, Givaudan is now based in Vernier, Switzerland.
Volpi underlined how this investment will strengthen Givaudan's position as a strategic partner for its clients in the region, and will meet the growing demand by consumers for sustainable fragrances with highly appealing scents.
Mauro Patrus, head of consumer product fragrances in Latin America, said Givaudan's production expansion hinges on the existing facility in Pedro Escobedo, which will help the group continue its efforts to establish a strong position in Latin America.
Lucia Lisboa, director of fine fragrances for Givaudan Latin America, added that, thanks to this investment, the group will be even better positioned to offer its regional clients an integrated end-to-end solution for the design, development and production of fragrances.
Givaudan was founded more than 250 years ago. At the end of fiscal 2020, the group had 16,000 employees worldwide and its revenue reached CHF 6.3 billion (approximately $6.910 billion), with a free cash flow standing at 12.8% of sales.
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