Work has now officially started at the new Budapest office of International Flavors & Fragrances (IFF). The business services centre (BSC) of the US company will support the operation of the group through global financial services, reaching the targeted employee number of 100 by the end of this year.
The company is based in New York, and is listed on the New York Stock Exchange. IFF mainly produces flavours and fragrances, used among others by the cosmetics industry and the food industry.
The company has 97 production plants and 105 R&D centres in 37 countries globally, and supplies to 39,000 customers with 13,000 employees over the world.
IFF's global financial service centre in Hungary started with about 50 employees, and this number will be doubled according to the plans by the end of 2019, to be over 100 people. In the company group's decision for a Hungarian investment, the strategic location that enables to cooperate with both US and Asian time zones, and availability of people speaking exotic languages also played an important role, besides the main business languages spoken.
Both Richard O'Leary, SVP and CFO of IFF and Jan Ambergen, MD of IFF Hungary, attended the opening ceremony in Budapest.