Firmenich and MG International Fragrance Company Launch Construction of Regional Perfumery Production Hub in Turkey

CHF 47 million investment will serve dynamic markets in Turkey,Middle East and 'Stans' countries

GENEVA,Nov. 5,2021 --Firmenich,the world's largest privately-owned perfume and taste company,and MG International Fragrance Company today announce the construction of a new Regional Perfumery Production Hub on the MG International campus near Istanbul,Turkey. The 47 million Swiss franc investment in the new plant will provide 20,000 metric tons of additional capacity to serve customers in Turkey,the Middle East and 'Stans' countries.

"This project is a milestone in the partnership Firmenich signed with MG International Fragrance Company in 2019,demonstrating our shared dedication to provide winning service to our customers and the strength of our commitment to this dynamic region," said Firmenich CEO Gilbert Ghostine. "This state-of-the-art plant will be a true perfumery production hub,responding to fast-growing demand from small and mid-size customers across Turkey,the Middle East and the 'Stans' countries."

"We are very proud that our legacy of 186 years of combined business experience in fragrances continues to successfully expand the alliance that we started only two years ago," said MG International Fragrance Company CEO Aslan Gülçiçek."With the continued unparalleled investments by Firmenich in our country and in our business,we are demonstrating that we are committed to be a key player in these important markets in the region."

Construction of the Regional Perfumery Production Hub was formally launched with a groundbreaking ceremony on the MG International and Firmenich campus in the Gebze Organized Industrial Zone attended by MG International Fragrance Company's Honorary President Mişel Gülçiçek,Firmenich Chief Operating Officer Eric Nicolas and senior executives from both companies. The new facility is expected to become operational before the end of 2023,joining Firmenich's global network of 46 perfumery,flavors and ingredients plants across the world.

With approximately 15,000 square meters of floor space spread across four floors,the facility will house some of the most advanced digital production technology and quality assurance laboratories in the industry. The highly automated plant will help deliver high-quality and agile service to meet the bespoke needs of small and mid-size enterprises which are flourishing in the region.

Sustainability criteria were incorporated from the outset in the project design,in keeping with Firmenich's responsible business approach and its ambitious 2030 Environmental,Social and Governance (ESG) goals. The plant is planned as a LEED(Leadership in Energy and Environmental Design) certified green building,meeting the highest standards for energy efficiency,environmental protection and a healthy working environment.

About Firmenich

Firmenich,the world's largest privately-owned fragrance and taste company,was founded in Geneva,Switzerland,in 1895 and has been family-owned for 126 years. Firmenich is a leading business-to-business company specialized in the research,creation,manufacture and sale of perfumes,flavors and ingredients. Renowned for its world-class research and creativity,as well as its leadership in sustainability,Firmenich offers its customers superior innovation in formulation,a broad and high-quality palette of ingredients,and proprietary technologies including biotechnology,encapsulation,olfactory science and taste modulation. Firmenich had an annual turnover of 4.3 billion Swiss Francs at end June 2021. More information about Firmenich is available at www.firmenich.com.

About MG International Fragrance Company

MG International Fragrance Company provides services to over 55 countries and supplies fragrance compositions and ingredients to 1800 active manufacturers worldwide including the domestic market. With its environmentally conscious production,"employee-and-customer-first" oriented approach,and productive high technology utilization,the company,which is among the 650 largest companies in Turkey,places particular emphasis on working under healthy and safe environments. www.mgfragrances.com