Emil Flachsmann AG

Frutarom Industries Ltd. acquires Emil Flachsmann AG

Wädenswil (ots) - On Monday 16 June 2003, Frutarom Industries Limited, through its subsidiary Frutarom UK, has agreed to buy Emil Flachsmann AG, a leading company in the production of high-quality flavours, pharma-grade plant extracts as well as extract-flavour compounds and applications for the food and pharmaceutical industries. Flachsmann, a privately-owned Swiss company with headquarters in Wädenswil, is a company with over 65 years of experience in manufacturing and creating flavours and plant extracts for the food industry, as well as in the production of specially developed, high-quality plant extracts for the pharmaceutical industry. The Flachsmann worldwide network includes plants in Switzerland, Canada and Scandinavia as well as marketing and sales offices in Germany and Hungary. Frutarom Industries Ltd. (www.frutarom.com) is a multinational flavour and fragrance house established in 1933. Frutarom creates, produces and markets at sites located worldwide (productions sites in Israel, the USA, the UK, Russia, Turkey, China, and Romania, plus marketing offices in France, Ukraine, Kazakhstan, Brazil, India, and Hong Kong). Frutarom's products include a large variety of high quality flavour and fragrance compounds and ingredients, as well as other specialty products, for customers in the Food, Beverage, Flavour, Fragrance, Nutraceutical, Pharmaceutical, Functional Food and Cosmetic. Flachsmann's activity is synergistic with the Frutarom Group's activity in its two existing divisions: Compounds/Flavours and Fine Ingredients, and expands the Frutarom Group's multinational presence. Flachsmann's strong and established marketing network in Western Europe, with marketing and sales offices in Switzerland, Germany, Denmark and Hungary will be added to the Frutarom Group's global sales and marketing network, particularly in markets where Frutarom has less significant presence. The addition of Flachsmann's know-how, goodwill, experienced personnel, production capacity, customers and market share will contribute substantially to strengthening Frutarom's two divisions and to positioning it as one of the leading companies in the world in its field. Flachsmann's extensive know-how, accumulated over decades, intellectual property and many patents will be added to Frutarom's accumulated know-how. The research and development departments will be united and thus substantially strengthened adding considerable momentum for on-going product innovation for Frutarom's global customer base. The acquisition is expected to expand the Frutarom Group's existing customer base and add new customers amongst the leading multinational food and pharmaceutical manufactures, primarily in the Western European market, with emphasis on Switzerland and Germany, and in the market in Eastern Asia, mainly Korea and Japan. Frutarom is a subsidiary of ICC Handel AG, a Swiss corporation, a company wholly owned by ICC Industries Inc. New York, owned by Dr. John Farber. Frutarom is a public company traded on the Tel Aviv Stock Exchange. On January 1, 2003, Frutarom's shares where included in the Tel Aviv 100 Index, an index of the top 100 companies listed on the Tel Aviv Stock Exchange Ltd. The new integrated organisation will become an important player in the industry of flavours and plant extracts with a sales volume of over U$ 150 Mio. ots Originaltext: Emil Flachsmann AG Internet: www.newsaktuell.ch If you have further questions, do not hesitate to contact: Emil Flachsmann AG PR & Communication Mrs Susanne Fässler Rütiwisstrasse CH-8820 Wädenswil Switzerland Phone +41/1/782'64'64 Fax +41/1/782'64'66 E-Mail:sales@flachsmann.com Internet: http://www.flachsmann.com Frutarom Industries Ltd. Mr Ori Yehudai President & CEO P.O. Box 10067 Haifa 26110 Israel Phone +972-4-8462401 Fax +972-4-8722517 E-Mail:info@frutarom.com Internet: http://www.frutarom.com

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