Belmay Sells Flavor Division

2007-03-28 | 08:48

Belmay announces the sale of its 20-year old flavor division to Frutarom Industries Ltd. The sale includes the flavor facilities in Wellingborough, England and its offices in Denmark, Norway and Singapore. The sale will allow Belmay to strengthen its financial resources while focusing on their historical core competence, fragrance. Belmay plans to re-invigorate and re-focus their efforts on global fragrance innovation, design and development. As the fragrance market continues to challenge the industry, having greater financial flexibility will enhance Belmay’s competitive position. The sale does not affect the ownership of the fragrance company, which remains a 100% privately-owned family business.