Germany's Symrise set to expand in Nantong development area

NETDA representatives sign a contract with German group Symrise on Feb 28. [Photo provided to NETDA]

German flavors, fragrances and pet food manufacturer Symrise AG signed an investment agreement on Feb 28 with the Nantong Economic and Technological Development Area, or NETDA – located in Nantong city in East China's Jiangsu province – via an overseas video conference.

As a result, Symrise plans to increase its investment in the NETDA, further expand into the pet food and natural ingredients market by buying Chinese groups – and fully integrate the research and development, production and sales operations of the acquired enterprises.

Established in 2003, Symrise is a global supplier of flavors and fragrances, natural ingredients and pet food. It established Symrise (China) Investment Co Ltd in the NETDA in December 2017, which later became its headquarters for the country.

Bao Delin, deputy secretary of the NETDA's Party working committee, attended the signing ceremony and recounted that soon after the Symrise unit in Nantong started production it went from strength to strength.

Plans are for the NETDA to continue to provide premium services and improve its business environment for resident enterprises, Bao added.

May Leong, vice president of finance at Symrise Asia Pacific, said that the operations of the group's Chinese headquarters would be further augmented in the wake of agreement and subsequent acquisitions, boosting the company's strategic position and market share.