Tuesday, March 13, 2001 12:20:30 PM
MONTVALE, N.J., Mar 03, 2001 (The Record - Knight Ridder/Tribune Business News
via COMTEX) -- A New York fragrance company will shut down its Montvale
operation and lay off 81 employees.
The move by International Flavors & Fragrances Inc. comes five months after the
company acquired Bush Boake Allen Inc. of Montvale for $970 million.
About 180 employees work at the site on Mercedes Avenue, which served as Bush
Boake Allen's headquarters, said IFF Chief Financial Officer Doug Wetmore. About
100 of those employees will be transferred to IFF operations in New York City,
Union Beach, Hazlet, and South Brunswick, Wetmore said.
IFF creates and distributes flavors to makers of prepared foods, beverages, and
pharmaceuticals. Its fragrances are used by manufacturers of perfumes, soaps,
and cosmetics.
With about 6,700 employees worldwide, IFF is seeking to cut costs by closing or
scaling back several of its 120 locations. In January, the company reported that
about 270 jobs would be eliminated worldwide.
The company gave notice to the New Jersey Department of Labor that it expects to
lay off 81 employees from Montvale beginning March 30.
"Admittedly not everyone is moving. There are a number of people that are losing
their jobs, but it's mainly because we don't need two main headquarters,"
Wetmore said.
He added that other employees will likely be transferred during the next several
weeks. The company plans to close down the operation in April. Because the
building is leased, he said, IFF is looking for a new tenant to take over the
lease, which has several years left.
The Mercedes Drive building was home to Bush Boake Allen's corporate
headquarters as well as some research labs.
Its neighbors include the corporate offices of Mercedes-Benz of North America
and the former headquarters of Wella International, the German hair products
company. The borough is planning to purchase that building and transform it into
a home for its municipal offices, police station, and library.
Mayor George "Barry" Zeller said he wasn't worried that the Bush Boake Allen
building will be vacant for long, given its prime location -- just off the
Garden State Parkway, surrounded by other corporations.
"I am concerned for the individuals losing their jobs," Zeller said. "But
luckily, the economy is still strong and hopefully they will find other jobs
soon."
By Michelle Han
Paule Walnuts
Recent IFF News
- IFF to Highlight Comprehensive Clean-label Portfolio at Vitafoods Europe 2024 • PR Newswire (US) • 05/02/2024 01:00:00 PM
- IFF Declares Dividend for Second Quarter 2024 • Business Wire • 05/01/2024 08:15:00 PM
- IFF to Showcase Science-backed Low Nitrite Excipients at Excipient World 2024 • PR Newswire (US) • 04/29/2024 01:00:00 PM
- IFF to Release First Quarter 2024 Results on May 6, 2024 • Business Wire • 04/16/2024 08:15:00 PM
- Delta Generates US$37 Million Profit in Q1, Google and Intel Unveil Cutting-Edge AI Chips, and More News • IH Market News • 04/10/2024 11:13:48 AM
- IFF Completes Divestiture of Cosmetics Ingredients Business • Business Wire • 04/03/2024 04:00:00 AM
- IFF Brings Science-Backed Excipients to Asia Pharmaceutical Industry at CPhI Japan 2024 • PR Newswire (US) • 03/26/2024 12:00:00 AM
- IFF Names Ana Paula Mendonça President, Scent • Business Wire • 03/21/2024 10:45:00 AM
- IFF Announces Sale of its Pharma Solutions Business to Roquette • Business Wire • 03/19/2024 10:45:00 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 03/08/2024 09:44:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:06:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:05:33 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:05:26 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:04:17 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:04:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 10:18:17 PM
- IFF Launches Advertising Campaign Celebrating The Art Of Perfumery • PR Newswire (US) • 03/04/2024 08:00:00 AM
- IFF Announces Grant of Employment Inducement Awards • Business Wire • 03/01/2024 09:15:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/29/2024 09:30:49 PM
- IFF Named Top Company in the U.S. for Gender Equality in 2024 • Business Wire • 02/29/2024 09:15:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/28/2024 01:35:45 PM
- IFF Receives Approval of SYNERXIA® Yeasts for Biofuel Production in Argentina • PR Newswire (US) • 02/28/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/20/2024 09:33:27 PM
- IFF Reports Fourth Quarter and Full Year 2023 Results • Business Wire • 02/20/2024 09:15:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:32:39 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM