Page 165 - CW E-Magazine (13-8-2024)

News from Abroad

RESEARCH INFRASTRUCTURE
IFF set to open renovated innovation centre in Shanghai

American fragrances & flavours
firm, IFF, has announced that it aims to
complete the renovation and expansion
of its facilities in Shanghai Hongqiao
Airport Business Park, Shanghai, China.
The site will be fully operational by the
end of August 2024.

The 16,000 square-meter site,
named Shanghai Creative Centre, is
IFF’s largest in Asia. The project is “The Shanghai Creative Centre will instant noodle pilot line underscore
designed to drive the development of foster outstanding ideation, supporting its vision of culinary innovation. The
innovative solutions across the IFF the art of taste, biotech, and perfumery, centre also features an exclusive fine
portfolio in China and the Greater Asia for even more out-of-the-box innova- fragrance area dedicated to the art of
market, further strengthening its global tion across our portfolio,” said Ms. Ana perfumery, and a groundbreaking 360°
leadership in fragrances, flavours, Paula Mendonça, IFF Scent President. digital space, offering an immersive
functional ingredients, and bioscience- olfactory experience that bridges the
based portfolios. Designed with collaboration and physical and digital realms, setting the
co-creation at its core, the Shanghai stage for live-streaming educational
“The Shanghai Creative Centre will Creative Centre is poised to become a workshops.
bring together capabilities across IFF, all hub for technical synergy and sensory
in one location, enabling us to improve exploration. The facilities will include IFF first entered the Chinese market
our delivery of end-to-end solutions for an open-office layout, a sensory sci- in 1981, becoming the fragrance and
customers in Asia and around the world,” ence centre, a scent creative centre, and flavour industry’s first multinational to
said Mr. Erik Fyrwald, IFF’s CEO. “This state-of-the-art labs set up for creation, establish a footprint and to set up a fac-
was a natural next step following the design, and product analysis, fostering tory. Today, China is one of the most
opening of our Singapore Innovation an environment where all technical important markets for flavours and fra-
Centre in 2022 and reaffirms our dedica- disciplines converge. The site’s culi- grances with high potential for growth,
tion to advancing innovation in Asia.” nary demo kitchen and the pioneering the company said.

Resonac readies to spin off its petrochemical

business

Japan’s Resonac Holdings (REH), Resonac Group’s petrochemical busi- two to three years. “This assessment
formerly known as Showa Denko, is ness through this absorption-type com- will include selection of the listing
moving ahead on plans to spin off its pany split, where the split entity will be market and the possibility of satisfying
petrochemical business. a wholly-owned subsidiary of a wholly- relevant countries’ tax- qualification
owned subsidiary of REH. “There- conditions including those of Japan and
At a board meeting held in February fore, the impact of this absorption-type the United States,” it informed. Reso-
this year, REH had resolved to establish company split on the consolidated nac Group’s petrochemical business is
Crasus Chemical as a wholly owned financial results of REH will be insigni- one of core businesses of the group,
subsidiary of Resonac Corporation ficant,” it said. accounting for approximately 20% of
or REC (a wholly-owned subsidiary consolidated net sales. The company
of REH) to prepare for the spin-off of Resonac said it is proceeding with had said it is necessary to retain stable
REC’s petrochemical business. the assessment of partial spin-off of and sustainable operations of the busi-
petrochemical business and seeking to ness because it is part of “Japan’s social
Crasus Chemical, will succeed the complete the exercise within the next infrastructure.”

Chemical Weekly August 13, 2024 165

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