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Symrise inaugurates €2m creative centre in Egypt - Daily News Egypt

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Symrise inaugurates €2m creative centre in Egypt

Egypt's food additives market reached €100-130m and the company's market share is 30%


Germany’s Symrise, a leading global player in the flavour and fragrance industry, opened a new creative centre in Egypt, the biggest in the Middle East, to develop flavour and fragrance industry, and study regional customers’ needs.

According to Symrise’s Managing Director Ibrahim Wagdy, Symrise Egypt has invested €2m in the new creative centre, while the company’s investments in Egypt reached approximately €4-5m in developing its production lines, he added.

During a press conference held on Tuesday, he pointed out that Symrise Egypt produces 10,000 tonnes of flavour additives annually.

He further stated that Egypt’s food additives market reached €100-130m, and the company’s share reached 30% of the Egyptian market.

“The company has a variety of products and the proportion of the component in some products exceeds 90%, and this proportion varies from product to product. Egypt and Africa account for about 50% of the company’s sales volume annually,” he added.

Wagdy explained that the company is present in Egyptian market for over 20 years, with three main facilities in the industrial city of the 6th of October. Moreover, Symrise Egypt covers a range of solutions for liquid and powder blending to herbal extraction, emulsions, and juice production.

Symrise’s President Dirk Bennewitz said that the centre is part of the company’s plan to expand in the Egyptian market.

Bennewitz explained that next year will witness new growth in production capacity and expansion of investment, as the company is currently preparing to increase some of its production lines three times during the next year.

He elaborated that the company’s turnover reached €3bn and plans to achieve 6% of growth in the coming period.

“We have been successful in Egypt two decades ago. We plan to increase our investments in the country that is considered the gate to African and other countries,” he disclosed.

 

Accordingly, Sofian Berrachmoune, Symrise’s Sub Regional Director Africa and Middle East, said that Egypt is on the top of the company’s business because it is in the heart of Africa. In addition, she stated that any of company’s products produced in Germany can also be produced in Egypt.

Berrachmoune highlighted that the company has acquired Diana Group, one of the leading manufacturers of natural flavours and the global number one for pet food solutions in 2014.

He pointed out that the government’s decisions in recent years reflected on increasing the capacity of the Egyptian producer in the international market, especially after the decision to liberalise the exchange rate, which contributed to reduce the cost of the product in the global market.

According to Berrachmoune, Egypt’s presidency of the African Union has increased cooperation with African countries and raised the company’s exports to some countries.

He pointed out that the Egyptian government seeks to overcome obstacles to the investor to allow him to expand and increase the proportion of the local component and deepen the local industry.

Moreover, Ihab Rehab, sales director in North Africa at Symrise, pointed out the company’s employees in Egypt reached 200 direct and indirect employments. “The Company has five main business units which are beverage, culinary, snacks, sweets and diary,” he added.

Rehab further noted that the company gained DQS Holding’s certification in November 2013 and won German sustainability award in 2018.

The company’s turnover is growing at 10% annually, and the establishment of Creative Center is part of the company’s plan to ensure participation in development and innovation in various taste enhancements and greater reliance on herbs, Rehab disclosed.

He explained that during the last decade, the company has achieved remarkable success in the Egyptian market, increased the number of its products, and relied on local raw materials and manpower. Besides, the company’s factories have been extended in Kenya with expertise and manpower.

“The export rate ranges between 15 and 20% of the company’s production in Egypt, mostly Kenya, Uganda, Saudi Arabia, UAE, Yemen, Syria and various Arab and African countries,” he revealed.

“We are working to serve our customers and develop new products to reduce the proportion of salt, sugar, and fat, which comes within the framework of the state’s plan to fight diseases in the Egyptian President’s campaign 100 million health,” said Rehab.

Symrise Global’s average annual growth in sales reaches 5-7% and employs over 8,000 people. The company has also developed over 30,000 different fragrances and flavour using more than 10,000 natural materials.

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https://wwww.dailynewssegypt.com/2019/11/27/symrise-inaugurates-e2m-creative-centre-in-egypt/
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