Sensient Technologies Corp - Company Profile
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Business Description
Sensient Technologies Corp (Sensient) manufactures and markets fragrances, flavors and colors. Its product portfolio includes natural and synthetic food and beverage systems, colors; flavors, flavor enhancers and bionutrients; dehydrated vegetables and other food ingredients; cosmetic and pharmaceutical colors and additives; and technical colors, specialty inks, and specialty dyes and pigments. It has operations in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through three reportable business segments, Flavors & Extracts, Color and Asia Pacific. Its Corporate and Other segment provides management, administrative, and support services to the Company. In FY2023, the company’s capital expenditure stood at US$87.8 million, which increased 10.7% YoY.
R&D Overview
Sensient’s research and development, and quality assurance operations focuses on improving existing products and services, and developing new products. The company employed 789 people in the research and development department. Its research and development efforts focuses on the development of high-performance products, which are capable of addressing the distinct needs of its customers. The company is also involved in the development of proprietary seed lines for its natural ingredients and natural colors business. The production facilities of the company also hold safety certifications from establishments such as International Organization for Standardization (ISO), Global Food Safety Initiative (GFSI Safe Quality Food Program (SQF), British Retail Consortium (BRC) and Food Safety System Certification (FSSC 22000). In FY2023, the company spent US$48.1 million towards its R&D activities, which as a percentage of total revenue stood at 3.3%.
Business Segments
Overview
Markets products of Flavors & Fragrances and Color segments in the Pacific Rim under Sensient brand name. It has manufacturing facilities are in Australia, India, China, Japan, New Zealand, and the Philippines. It has offices for sales and technical support in India, China, Thailand, and Indonesia. It also has R&D facility in Singapore. In FY2023, the segment incurred a capital expenditure of US$2.9 million which grew 35.1% YoY.
Performance
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Overview
Produces and supplies natural and synthetic color solutions for the food and beverage, cosmetic, pharmaceutical, and industrial markets. It also provides colors and other ingredients for pharmaceuticals and cosmetics; and technical colors for industrial applications and digital imaging. Operates manufacturing plants in the US, Canada, China, France, Brazil, Germany, Peru, Mexico, Italy, Switzerland and the UK. In FY2023, the segment incurred a capital expenditure of US$37.7 million which grew 24.5% YoY.
Performance
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Overview
Develops, manufactures and supplies flavors and fragrance systems and compounds serving food, personal care, pharmaceutical, beverage and household-products industries. It also offers natural ingredients for food processors. Its portfolio includes systems products, such as flavor-delivery systems, and compounded and blended products; and ingredient products, including natural and synthetic flavors, essential oils and aroma chemicals. The segment also offers chili powder, chili pepper, paprika and dehydrated vegetables like parsley, celery and spinach. The segment has manufacturing plants in the US, China, Belgium, Costa Rica, Mexico, Spain, and the UK. In FY2023, the segment incurred a capital expenditure of US$40.5 million which declined 0.8% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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