Givaudan has signed an investment agreement to set up a new fragrance production facility in China.

The Swiss fragrance manufatcurer is spending an initial investment of US $34.2 million on the new facility, which will be located in China’s Changzhou National High-Tech District (CND). The company’s total investment is set to reach US $99.8 million.

Givaudan is a global leader in the fragrance and flavour industry, and the company also supplies raw materials to top global perfume brands. The company has its Chinese headquarters in Shanghai and offices in Beijing, Guangzhou, Hong Kong, as well as in other cities.

Willem Mutsaerts, Head of Global Procurement of Givaudan, said, “After considering a number of Chinese cities, Givaudan finally chose CND as the optimal locale for its new fragrance facility in China and has strong confidence in the upcoming CND project…we are very optimistic about the future of the Chinese market.”

Mutsaerts continued, “The CND project, a large investment for Givaudan, is expected to lay a sound foundation for the company’s development in the market. We hope to start and complete the construction of the facility as soon as possible with the support of the local government. And Givaudan is confident in bringing in more investment opportunities in the future.”