Frutarom,an Israel-based ingredient company,plans to set up a R&D and innovation center and a production facility for taste and health natural products in Israel with an investment of$30m.
The company said that it received approval from the Israeli Ministry of Industry and Trade's Investment Center,a move which will reinforce Frutarom's scope of R&D and production in Israel and globally.
The new facility will receive an investment grant and tax benefits under the Israeli Encouragement of Investments Law.
Frutarom president and chief executive Ori Yehudai said the new facility will bolster company's footprint in natural taste and health products segment,while serving its rapid growth strategy.
"The new plant will bring additional synergies and efficiencies in our R&D processes and production globally,"Yehudai said.
Frutarom operates facilities in the US,UK,Switzerland,Germany,Italy,Israel,China,Slovenia,Brazil,South Africa and Turkey.
