HAIFA, Israel, November 2, 2005 /PRNewswire-FirstCall via COMTEX/ -- Frutarom Industries Ltd. (UK:FRUT) announced today that Mr. Kobi Levy has been appointed to the position of Executive Vice President of the global Frutarom Group and Manager of its Global Flavors Division. Mr. Kobi Levy joins Frutarom after a long and very successful career in the Strauss Group, where he held the position of General Manager, among others. Strauss is a leading dairy producer and a part of the renowned worldwide Danone Group.
Ori Yehudai, President and CEO, said, "We are pleased that Mr. Kobi Levy is joining the Frutarom Group and our global management. Mr. Kobi Levy brings with him considerable commercial and managerial experience, and has a thorough knowledge of and close ties in the global food industry. We are confident that Kobi's appointment and capabilities will support the continued realization of the rapid and profitable growth in the Flavors Division, in addition to the continued development of long term relations with our customers in over 100 countries."
Yehudai continued, "Frutarom continues to successfully implement its rapid growth strategy by combining organic growth in core activities, through the creation of added value for customers and a focus on both large multinationals and mid size and local customers, with strategic acquisitions."
Frutarom's results for the second quarter of 2005 showed growth and development for the twenty-third consecutive quarter. Sales grew 50.5% compared with the same quarter in 2004 to reach US$ 67.1 million, while net profit grew 86.9% compared with the same quarter in 2004 to reach US$ 8.4 million.
Background on the Company
Frutarom is a global company active in global flavor and fine ingredients markets. Frutarom has significant production and development centers on three continents and markets its products on five continents to over 3,500 customers in more than 100 countries. Frutarom's products are intended for the food and beverage, flavor and fragrance, pharmaceutical, nutraceutical, functional food, food additive and cosmetic industries.
Frutarom operates through two Divisions:
- The Flavors Division, which develops, produces and markets flavor compounds and food systems.
- The Fine Ingredients Division, which develops, produces, markets and sells natural flavor extracts, natural functional food ingredients, natural pharma/nutraceutical extracts, specialty essential oils and citrus products and aroma chemicals.
Frutarom's products are produced at its plants in the United States, England, Switzerland, Germany, Israel, Denmark, China, and Turkey. The Company's global marketing organization includes branches in Israel, the United States, England, Switzerland, Germany, Denmark, France, Hungary, Romania, Russia, Ukraine, Kazakhstan, Belarus, Turkey, Brazil, Mexico, China, Japan, Hong Kong, India and Indonesia. The Company also works through local agents and distributors worldwide. Frutarom employs about 1,000 people worldwide.
For further information, visit our website: www.frutarom.com