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Swiss fragrance and flavors maker Givaudan intends to build a CHF 170 million best-in-class, centralized savory flavors production facility in Hungary, in close proximity to the fast-growing markets of Eastern Europe.
The investment will be spread over three years and is in accordance with the overall capital expenditure target of approximately 4% of sales per year, Givaudan said when unveiling its updated five-year strategy on its website on Tuesday.
The company's strategic plans include streamlining its savory manufacturing in the UK and Switzerland, it said, adding that the intent is subject to employee consultation. (MTI-Econews)