Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------
Symrise has successfully consummated its acquisition of US fragrance
manufacturer Manheimer Fragrances on November 6, 2008. In conjunction
with the purchase of Intercontinental Fragrances in September, this
acquisition makes the company one of the leading fragrance
manufacturers on the US air care market.
Completing acquisitions of both US fragrance manufacturers
significantly increases Symrise's overall share on the US fragrance
market and strengthens the company's position in the air care sector,
especially on the scented candles market. Both companies have enjoyed
above-average sales growth in recent years and are core-listed at key
consumer goods companies in the US.
The anticipated combined consideration for the transactions, which is
partially contingent on the attainment of certain milestones, will be
c $100 million. In 2008, the acquisitions will add c $10 million
dollars to Group sales. After integration costs are taken into
account, the Group EBITDA will not be materially impacted this year,
but Group earnings will be enhanced in 2009. Integration will be
completed in the first half of 2009.
Also in the works is a global air care center, located in the US,
where Symrise will bundle all of its research, development,
production and worldwide marketing activities for air fresheners.
About Symrise
Symrise is a global supplier of fragrances, flavorings and raw
materials and active ingredients for the perfume, cosmetics and food
industry.
Its sales of ¤1.27 billion in 2007 place the company among the top
four in the international flavors and fragrances market.
Headquartered in Holzminden, Germany, Symrise is represented in more
than 30 countries in Europe, Asia, the United States and South
America.
With more than 40 first patent applications per year, Symrise is one
of the most innovative manufacturers on the market. Used by
manufacturers of perfumes, cosmetics and foods, our products are an
inseparable part of daily life. At Symrise we combine an awareness of
consumer trends with cutting-edge technologies, focusing on
innovative fashion and lifestyle products that have additional
practical value for the consumer. Symrise - always inspiring more.
www.symrise.com
Contact: Katja Derow, red roses communications, phone: +49 40 46 96
770-10, e-mail: k.derow@redroses-pr.com
--- End of Message ---
Symrise AG
Mühlenfeldstraße 1 Holzminden Germany
WKN: SYM999; ISIN:
DE000SYM9999; Index: MDAX, TecDAX;
Listed: Amtlicher Markt in Frankfurter Wertpapierbörse, Freiverkehr
in Bayerische Börse München,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr
in Börse Berlin,
Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart,
Prime Standard in Frankfurter Wertpapierbörse;
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.