Nigeria to benefit from Symrise’s €100m investments

Dr. Bertram disclosed this in Lagos at the formal launch of Symrise subsidiary in Nigeria.
Symrise is a global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements.
Its sales of € 1.830bn in 2013 place Symrise among the top four companies in the global flavors and fragrances market.
Headquartered in Holzminden, Germany, the group is represented in 35 countries in Europe, Africa, the Middle East, Asia, the United States and Latin America.
He said the Symrise launch of a subsidiary in Lagos, Nigeria, is a move to strengthen its presence in Africa, adding that the location will include sales and marketing offices as well as application laboratories.
He said Symrise will be developing local capabilities to drive its business in Nigeria.
“We are here for the long term. We will develop local products here to meet local tastes, with local requirements and indigenous people,” he said, adding that local talents, knowledge and raw materials would also be sourced to develop the products.
Bertram said Symrise is committed to Nigeria because of its growth potentials as fastest growing emerging market in Africa.
“With about 175 million inhabitants, abundant mineral and national resources, Nigeria has the potential to become one of the top 10 economies in the world. Already today, the country is Africa’s largest economy and one of the fastest growing on the continent and seen as a gateway to West Africa.
 “Symrise has also successfully grown its representation in Nigeria for over three decades through our longstanding agent Allied Technol Systems Ltd. Now, we have decided to intensify our presence and commitment and to establish our own legal entity, while continuing to be supported by and collaborate with Allied Technol. Symrise is known as a company with a long-term set of goals.