Paule
24 년 전
International Flavors & Fragrances to Close Montvale, N.J., Operations
MONTVALE, N.J., Mar 03, 2001 (The Record - Knight Ridder/Tribune Business News
via COMTEX) -- A New York fragrance company will shut down its Montvale
operation and lay off 81 employees.
The move by International Flavors & Fragrances Inc. comes five months after the
company acquired Bush Boake Allen Inc. of Montvale for $970 million.
About 180 employees work at the site on Mercedes Avenue, which served as Bush
Boake Allen's headquarters, said IFF Chief Financial Officer Doug Wetmore. About
100 of those employees will be transferred to IFF operations in New York City,
Union Beach, Hazlet, and South Brunswick, Wetmore said.
IFF creates and distributes flavors to makers of prepared foods, beverages, and
pharmaceuticals. Its fragrances are used by manufacturers of perfumes, soaps,
and cosmetics.
With about 6,700 employees worldwide, IFF is seeking to cut costs by closing or
scaling back several of its 120 locations. In January, the company reported that
about 270 jobs would be eliminated worldwide.
The company gave notice to the New Jersey Department of Labor that it expects to
lay off 81 employees from Montvale beginning March 30.
"Admittedly not everyone is moving. There are a number of people that are losing
their jobs, but it's mainly because we don't need two main headquarters,"
Wetmore said.
He added that other employees will likely be transferred during the next several
weeks. The company plans to close down the operation in April. Because the
building is leased, he said, IFF is looking for a new tenant to take over the
lease, which has several years left.
The Mercedes Drive building was home to Bush Boake Allen's corporate
headquarters as well as some research labs.
Its neighbors include the corporate offices of Mercedes-Benz of North America
and the former headquarters of Wella International, the German hair products
company. The borough is planning to purchase that building and transform it into
a home for its municipal offices, police station, and library.
Mayor George "Barry" Zeller said he wasn't worried that the Bush Boake Allen
building will be vacant for long, given its prime location -- just off the
Garden State Parkway, surrounded by other corporations.
"I am concerned for the individuals losing their jobs," Zeller said. "But
luckily, the economy is still strong and hopefully they will find other jobs
soon."
By Michelle Han
Paule
24 년 전
International Flavors sees 2001 low single digit revenue growth
NEW YORK, Feb 20 (Reuters) - International Flavors &
Fragrances Inc. , the world's No. 1 fragrance maker,
said on Tuesday that it expected 2001 low-single digit revenue
growth, with the strongest sales growth of mid to high single
digits in Asia Pacific and Latin America.
It said it expected its 2001 North American and European
sales growth in the low single digits.
It also said that it expects 2001 earnings of $1.42 a
share, excluding one time charges, in line with its previous
estimates.
International Flavors also said that it planned to divest a
portion of its Aroma Chemicals business as part of its purchase
of the Bush Boake Allen Business. It said it would use the
proceeds of the sale to pay down debt.
The company also said it would evaluate the remainder of
its business portfolio as part of an ongoing effort to focus on
its core business.
((--New York Equities Desk, 212 859 1700))
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