Symrise steps up distribution in Canada
help it achieve "continued growth" in the country.
The German firm said it has appointed The Ingredient Company to handle the distribution of products from the flavors and nutrition division. The Ingredient Company will act as the exclusive sales arm and provide value added ingredients to the food, beverage, confection, and dairy markets. A Symrise spokesperson said: "The Ingredient Company is committed to establishing a keen awareness and daily presence of Symrise's flavours and nutritional ingredients." The firm has not released any more details on the agreement. Markets Canada is not the only market the group has been concerned with. Last November the firm reported that for much of 2007 it achieved a higher share of its sales (40 per cent) in emerging markets than in Western Europe. Particularly strong growth was seen in China, Indonesia and Korea - three of the places that the firm has focused on as having a high potential. Overall, sales for Q3 were up 5 per cent to €328m over last year's comparative period, and nine month sales were up 4.7 per cent to €989.2m. EBITDA rose 9.4 per cent to €75.2m in Q3, and 13.9 per cent to €219m over the nine months. In flavors and nutrition, Q3 saw a 2 per cent increase to €156.2m, and 3.4 per cent over the nine months to €467.4m. Symrise has recently pledged to learn about consumers' taste and sensory preferences by analysing data on food and drink choices made by diners at restaurants. The firm has said that the findings will be directly integrated into product developments. In this way, it will prove instrumental in helping its R&D team stay ahead of the game in the flavours market.
