International Flavors & Fragrances (IFF) has formed a joint venture with Kemira to produce sustainable biobased materials at scale, the companies said Thursday.
The Alpha Bio joint venture will commence production late 2027 with a 130 million-euro ($139.9 million) investment.
The joint venture will operate as an independent entity in Kotka, Finland, the companies said.
International Flavors shares were up 1.1% in recent premarket activity.
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