FIRMENICH ANNOUNCES HISTORIC INVESTMENT IN GENEVA
Geneva, Switzerland, January 11th 2017 – Firmenich announces the sale of its La Jonction site in Geneva to the State’s Pension Fund in support of the Geneva state’s urban renewal plan. The transaction will enable Firmenich to conduct its largest investment ever in Geneva, to strengthen and expand its global center for innovation and creation. By 2020, the fragrance and flavors company will invest more than 100 million Swiss francs to transfer all its research and development and creation and support functions, from La Jonction to a new Meyrin-Satigny campus of excellence.
“Today is an historic day for Firmenich," states Patrick Firmenich, Chairman of the Firmenich Board of Directors. "In 1895, Firmenich began as a true start-up, operating out of Charles Firmenich’s garage in La Servette. Very quickly, our activities grew, and in 1898 we moved to La Jonction. Here, our research really took off, leading to today’s industry leadership position. In keeping with our pioneering spirit, we are delighted to further our growth by grouping all of our activities in Meyrin-Satigny.”
"This historic investment of 100 million Swiss francs, in addition to the 60 million francs that we recently invested in our new perfumery plant in Meyrin, demonstrates our commitment to anchoring our activities in Geneva for the long term," adds Gilbert Ghostine, CEO, Firmenich. "Our vision is to strengthen Firmenich’s industry-leading position by creating this campus of excellence in Meyrin-Satigny, as a hub for cutting-edge innovation and creativity."
Geneva’s State Councilor for the Department of Economy and Security, Pierre Maudet commented: “By expanding its global Research and Creation Center in Meyrin, Firmenich is boosting the attractiveness and competitiveness of the flavors and fragrances industry in our region. With all business functions under one roof, Firmenich is significantly contributing to a rich talent pool.”
Today, La Jonction is home to Firmenich’s most important research and development center worldwide, employing 500 employees who represent 65% of its Research and 85% of its Intellectual Property creation. The site is also one of its main creation centers bringing together an exceptional team of world-renowned Perfumers and Flavorists. From this center of excellence, Firmenich’s creators and researchers work alongside leading sales teams to ensure the global reach of its cutting-edge technologies and creations.
Firmenich expects to transfer all activities, including all support functions from La Jonction to Meyrin-Satigny by 2020, once the Campus has been completed.
Firmenich is the world’s largest privately-owned company in the fragrance and flavor business. Founded in Geneva, Switzerland, in 1895, it has created many of the world’s best-known perfumes and flavors that billions of consumers enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its world-class research and creativity, as well as its thought leadership in sustainability and exceptional understanding of consumer trends. Each year, it invests 10% of its turnover in R&D, reflecting its continuous desire to understand, share and sublimate the best that nature has to offer. Firmenich had an annual turnover of 3.2 billion Swiss Francs at end June 2016.