Welcome to our dedicated page for International Flavors&Fragranc news (Ticker: IFF), a resource for investors and traders seeking the latest updates and insights on International Flavors&Fragranc stock.
International Flavors & Fragrances Inc. (IFF) (NYSE: IFF) generates a steady flow of news that reflects its role as a global leader in flavors, fragrances, food ingredients, health and biosciences. This news page aggregates company announcements, press releases and related coverage so readers can follow how IFF’s strategies, operations and governance evolve over time.
IFF’s news often highlights developments across its core segments—Taste, Health & Biosciences, Scent and Food Ingredients. Examples include updates on segment performance from quarterly earnings releases, commentary on market dynamics within these segments and information on productivity and margin initiatives. Investors and analysts can use these items to understand how the company’s segment-level trends contribute to overall performance.
Operational and technology-focused announcements are another key news category for IFF. Recent releases describe the implementation of the Colibri smart dosing robot at its Scent and Taste production plant in Chin Bee, Singapore, which is used to produce fragrance sample batches on demand, and the installation of a green hydrogen production facility at its Benicarló, Spain site to support sustainable fragrance ingredient manufacturing. News items also cover plans for new facilities, such as a scent creative center in Mumbai, India, designed to enhance fragrance innovation in that market.
Corporate governance, capital allocation and strategic partnerships feature prominently in IFF’s news flow. The company reports on board appointments, changes in committee assignments and amendments to its bylaws. It also announces dividends, share repurchase authorizations and collaborations, such as its strategic collaboration with BASF to develop next-generation enzyme technologies and biobased polymers. Bookmark this page to access a consolidated view of IFF’s latest publicly released information, from financial results to sustainability initiatives and board-level decisions.
IFF has provided a preview of its long-term outlook, confirming three-year financial targets and expected synergies from its merger with DuPont's Nutrition & Biosciences. The company aims to achieve $400 million in revenue synergies and $300 million in cost synergies by the end of 2023. IFF anticipates organic sales growth of 4-5% and an adjusted EBITDA margin of approximately 26% by 2023. The Board of Directors for the new IFF includes seven current members and six from DuPont, enhancing leadership strength.
DuPont announced a split-off exchange offer allowing stockholders to exchange shares of DuPont for shares of Nutrition & Biosciences (N&B) at a 7% discount. This is part of a Reverse Morris Trust transaction with International Flavors & Fragrances (IFF). Stockholders can choose to tender some, all, or none of their shares, expecting to receive approximately $107.53 of N&B stock for every $100 of DuPont stock. The exchange offer runs until January 29, 2021, and the shares of N&B will convert to IFF shares post-merger, with a pro rata distribution planned if the offer is undersubscribed.
IFF (NYSE:IFF) has achieved the prestigious EcoVadis platinum sustainability rating for 2020, placing it among the top 1% of companies evaluated. With an overall score of 73%, IFF excelled particularly in Environment and Sustainable Procurement. The company has maintained a top performance status since 2014. Additionally, IFF was recognized in the Dow Jones Sustainability Indices and named one of America’s Most Responsible Companies for 2021. Furthermore, IFF secured a place on CDP’s ‘A List’ for water security for the third consecutive year, highlighting its commitment to corporate environmental transparency.
IFF has declared a quarterly cash dividend of $0.77 per share on its common stock. This dividend will be payable on January 7, 2021, to shareholders who are on record as of December 28, 2020. As a prominent company in scent, taste, and nutrition, IFF continues to position itself as an innovator in its industry, emphasizing its commitment to delivering unique products that cater to consumer needs.
IFF and DuPont have received unconditional clearance from the European Commission for the merger of DuPont’s Nutrition & Biosciences business with IFF. This approval is the final antitrust clearance necessary for the transaction, which is expected to close in Q1 2021. IFF's CEO expressed satisfaction with the progress and support received from shareholders, marking this as a significant milestone towards the merger. DuPont's executive chairman also voiced confidence in the long-term growth potential of the combined entity.
International Flavors and Fragrances (IFF) has announced its voluntary delisting from Euronext Paris after a thorough review of trading volume, costs, and administrative requirements. The delisting has been approved by the Euronext Board. IFF shares will continue to be traded on the New York Stock Exchange (NYSE), their primary listing. A voluntary sales facility will be available for shareholders holding IFF shares through Euroclear France, allowing them to sell shares on the NYSE. The last trading day on Euronext Paris is set for December 17, 2020, with delisting effective December 18, 2020.
International Flavors & Fragrances reported third quarter 2020 financial results with net sales of $1.27 billion, flat year-over-year. Adjusted EPS was $1.40, down from $1.53 in 2019. Despite challenges from COVID-19, the Scent segment showed 4% growth in sales, while the Taste segment's sales decreased 2%. Operating profit fell 19% to $150.3 million. The company anticipates a sales headwind of roughly 400 basis points in Q4 due to accounting adjustments. IFF is progressing toward a merger with DuPont Nutrition and Biosciences, expecting completion in Q1 2021.
IFF (NYSE:IFF) will release its third quarter 2020 earnings on November 9, 2020, after market close. A live webcast to discuss the results and outlook will take place on November 10, 2020, at 10:00 a.m. ET. Investors can access the webcast and slides on the company's website, with a recorded version available for replay.
As a leading innovator in taste, scent, and nutrition, IFF aims to create unique products through the fusion of science and artistry.
IFF has opened a new creation and innovation center in Dubai, aimed at enhancing customer service and driving growth in the African, Middle Eastern, Turkish, and Indian markets. The 1,400 m² facility located in Dubai Science Park will offer innovative solutions in flavors, protective food ingredients, and consumer insights. This investment underscores IFF's commitment to regional market expansion and follows previous expansions in Cairo and Dubai. The center is designed with sustainability in mind, being LEED certified, and aligns with the company's strategy to cater to consumer needs effectively.
International Flavors & Fragrances Inc. (IFF) announced its decision to voluntarily delist its common stock from the Tel Aviv Stock Exchange (TASE) effective January 20, 2021. This process allows IFF shares to continue trading on the TASE for three more months, after which they will be fully transferred to the New York Stock Exchange (NYSE). This strategic move aims to streamline the company's trading operations while maintaining its presence on major exchanges.