IHS Chemical Week

Markets :: Specialty Chemicals :: Flavors and fragrances

Sensient announces further restructuring, raises dividend

11:30 AM MST | March 4, 2014 | Vincent Valk

Sensient Technologies announced today that it is initiating a new restructuring program, which will consolidate manufacturing plants and “eliminate underperforming operations,” the company says. The program will cut costs by $20-25 million/year, “significantly improve profitability and margins within the flavors and fragrances (F&F) group,” and improve the company’s return on invested capital, Sensient adds. Sensient will incur $90 million in pre-tax charges related to the restructuring, which is expected to be complete in 2015...

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