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The enterprise Symrise GmbH & CO. Kg from Holzminden produces and drives odoriferous substances out and flavours. Managing directors are Dr. Gerold Linzbach (CEO) and Dr. Heinz Bertram (CTO).
The products of the company are supplied with to Dior, Guerlain, Cartier, Hermes, Givenchy and Kenzo not at final consumers, but to other enterprises such as Beiersdorf Co., Bahlsen, Dr. Oetker, Procter & Gamble, Fritolay and and others. These interfere the raw materials into their products.
Symrise has world-wide 5000 coworkers in 25 production locations according to data in May 2005. Of it approx. 2000 coworkers are busy in Germany and 920 in the USA. After Givaudan (Switzerland), IFF (the USA) and Firmenich (Switzerland) Symrise lies 2004 with a portion of 9,3% on that 4. Place at the global market of the smells and flavours before ICI (imperially Chemical Industries PLC) (Great Britain) with Quest international.
Symrise developed in February 2003 from the fusion of the two companies Dragoco and hair man & Reimer (H&R), both resident in Holzminden. The Dragoco group was created an exempt private company and a H&R from 1919 to the fusion, 1874 and from 1953 to the fusion a subsidiary company the Bavarian AG. Symrise belongs today to approximately 76% of the Swedish finance company EQT Northern private Equity fund, to 22% to the former owner of the Dragoco, Mr. Horst-Otto Gerberding and to 2% of the north German Landesbank (NordLB).
The fusion on 20 February 2003 called refuge Otto Gerberding indispensable. The expenditure for research and development is high (with Symrise in the year 2003 with 7,8% of the conversion), the customers from the Kosmetik, the hygiene and food industry wanted with few large manufacturers to only co-operate. From the fifth-largest (hair man & Reimer) and the eight-largest offerer of the industry (Dragoco) with Symrise the fourth largest became, with a market share of 9,3% and a conversion 2004 of 1.138 billion euro.
Symrise at the master seat in Holzminden and in Teterboro (new jersey) in the USA has the research departments for
The 1994 from investor created Swedish finance company EQT, behind which the boiling mountain family stands and possesses own capital funds of over 5 billion euro, intend to bring Symrise 2007 or 2008 to the stock exchange. "There are ever more institutional investors, as for instance the alliance and the Hypo Vereinsbank, in addition, wealthy families, who entrust, say us in Germany their money "Bjorn Hoi Jensen, director/conductor residents of Munich of the office of EQT. The private Equity house belongs to the few European players in the market, who can take up it with the anglo-saxon billion-funds. Participations of the majority are preferred average-change-learn on, which successfully occupy niches and a global perspective have, as for example with the enterprise Symrise.
This way EQT wants to increase the (to time 13.5% EBITA) further and diminish for this personnel. After several short term changes in the management Symrise of October 2003 until March 2005 by James D. Forman was led, which led the Stollwerck before AG. As result of an investigation of the management consultation Roland Berger are to be diminished for the optimization of the processes 420 to 500 jobs world-wide. Also production misalignments into cheap wage countries were considered, since the past result (13.5% EBITA, s.o.) is not sufficient the investor EQT. The results were communicated to the staff in a tumult-like running workshop meeting on 22 June 2004. Afterwards a further workshop meeting took place on 16 November 2004 in that the management done without a production misalignment to Poland. But the coworkers the 40 had hour week and a renouncement of wage increases for 2005 and 2006, as well as the renouncement of paid short tracing in the layer service to accept. Nevertheless still approximately 350 jobs in Germany should be diminished to at the end of of 2005.
To 12. March 2005 reports the enterprise again of a guidance change. After only one and a half years the managing director James D leaves. Forman the enterprise Symrise "in the mutual agreement". For it came to the 1. March 2005 Dr. Gerold Linzbach, which before president with INVISTA Resins (plastics) & Fibers (textile fibers) (formerly Kosa) in the USA (Delaware) was. Before it Linzbach held numerous key positions in the management of Trevira Technical Fibers and Celanese of acetates LLC (until 30 September 2003) and was member of the pro forma board with Aventis Pharma (today Sanofi Aventis). By its activities in different management positions and its experiences in the strategic reorientation of enterprises as well as the planning and conversion of reorganization processes he is to align Symrise strategically in such a way that it ascends into the world class of the Top-3 in the smell and taste material industry.
To 31. March 2005 transferred Symrise 1998 created British flavour manufacturers the Flavours Direct (conversion 2004:10 million euro) with seat to Corby.
Starting from June 2005 the range Fragances under the leader Achim Daub is restructured. The department in Hamburg is dissolved and that only 2002 settled creative centers for receives again its seat in Holzminden there. World-wide jobs are lost, into Germany - thus in Holzminden and Hamburg - it to 25 will be through these restructuring measures ca.100. In Hamburg however the Kosmetikbereich of the enterprise remains.
On 21 June 2005 the chairman of the board informed Gerold Linzbach about the participation of Symrise in the Bieterverfahren for the food chemistry section ("Food Ingredients") of the Degussa AG in Duesseldorf. The Sparta contained the two segments artificial flavours ("Flavours") and materials, which improve the consistency of food ("Texturants"). Symrise offered for the Flavours part and EQT for the Texturants part. The "Texturants" would not have been integrated with a successful requirement in Symrise. Degussa sold both segments in September 2005 however for approx. 540 million euro at Cargill Inc. in Minneapolis, the USA.
On 6 December 2005 Symrise reports of a development of the location in the Anton Jaumann industrial estate, which in the development and production of flavours and raw materials for the beverage industry is specialized. For 1.500.000 euro new production plants are purchased as well as invested in the laboratory and application technology. Additionally logistics takes over larger capacities for the sample dispatch.
A renewed restructuring given in a workshop meeting on 7 December 2005 by Symrise boss Gerold Linzbach admits:
- the service range technology and environment (engineering, maintenance, security, environment, power supply, infrastructure) under the technical manager Dr. Norbert Kalkert is separated with 214 coworkers into its own society, those as a hundred percent daughter are led and receive a contract for services for the enterprise Symrise until 2010. Meanwhile it is well-known that the new society under the name TESIUM (technology, security, environment) will firmieren. Official starting date is 1 July 2006. The new society could already before the some external projects akquirieren (e.g. Build for an oil mill for the production of bio Diesel).
- computer science (information of system) with world-wide approx. 100 coworkers and a budget of 20 million euro is to 1 February 2006 at the French EDP Dienstleister Atos Origin (conversion: 5 billion euro, 46,000 persons employed) sold.
- internal logistics is separated under the leader Dipl. - engineer Wolfgang branch starting from 1 June 2006 with the new name symotion.
While for technology and environment and computer science by the changes directly no jobs are endangered, with logistics on a dismantling one counts. From the restructuring measures approximately 400 coworkers are concerned in the spring 2006.
On 19 January 2006 it became admits that Symrise transfers the Kaden bio chemicals GmbH with seat to Hamburg. The enterprise for highly pure plant extracts with 33 persons employed was led before with a portion of 90% by the owner Heinrich Kaden. Kaden bio chemicals is with priority represented on the German and US-American market.
To 24.05.2006 is on the website finanznachrichten.de (source: To read german press agency AFX) that the CEO Gerold Linzbach excludes a stock exchange course. This stands in the contradiction to past expressions to bring to Symrise into 2007 or 2008 to the stock exchange.
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