Symrise has announced that it has opened its own site in Tehran, Iran. The company cut the ribbon on the new facility, which includes sales offices and application-specific laboratories, last week.
Symrise is hoping to use the knowledge gained on site to develop custom-tailored products for the Persian Gulf region. Iran’s location between Europe, Russia and the Gulf States will also make this country an important trading hub, opening up opportunities for the future.
“Having our own site in the region underlines our dedication to Iranian customers and this attractive market. We are thus a step ahead of many other international companies,” said Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise. “The country has good liquidity and already ranks among the 20 largest economies. Iran has the fourth-largest oil reserves in the world as well as other natural resources. Experts expect the gross domestic product to double soon.”
“The population of roughly 80 million is well educated with a healthy demographic distribution of 50 percent under the age of 30. There is a lot of demand for products such as high-quality perfumes, cosmetics and foods that conform to leading global standards. The total market potential in this area is estimated to be more than € 100 million,” added Mohammad Faieghi (M. Sc. Eng.), Managing Director of Symrise Parsian.