IFF sells German nitrocellulose business to Czechoslovak Group
International Flavors & Fragrances (IFF) has completed the sale of its nitrocellulose business, including the Walsrode Industrial Park in Germany, to Czechoslovak Group (CSG). The unit, part of IFF's Pharma Solutions, served coatings and printing inks sectors. CEO Erik Fyrwald said the move supports IFF's deleveraging strategy and focus on core operations.
'The divestiture of our nitrocellulose business builds upon our deleveraging journey and enables us to focus on our core businesses,' said Erik Fyrwald, IFF CEO. 'I'd like to thank our nitrocellulose colleagues for their dedication and wish them continued success as part of CSG.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
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