GERMANY: Dragoco and Haarmann & Reimer, both based in Holzminden, have joined to form Symrise. The company now accounts for 11% of total market volume, according to company estimates.
In 2002, both companies generated sales of approximately 1.24 billion euro, representing a 3.2% rise in sales year-on-year in local currencies. Sales growth was generated in particular in the flavor segment, where sales rose 6.2%, as well as by the regions of Europe, up 6.1%, and South America, up 7.5%, executives said.
“The name Symrise not only stands for a successful symbiosis of two tradition-steeped companies, new vitality and a new beginning,” said Symrise chief executive officer Horst-Otto Gerberding. “Symrise also stands for a new and creative corporate entity that we will be establishing as a distinct brand in its own right, and naturally for collaboration with our customers in a spirit of partnership. Our combined core competencies and our joint expertise serve as the guarantee that Symrise will successfully position itself in the global market.”