Synthite: Difference between revisions
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{{Infobox company |
{{Infobox company |
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| name = Synthite |
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== History == |
== History == |
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=== '''1972''' === |
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The company was established in 1972 with 20 employees. It was founded by C. V. Jacob who started the company after working in civil construction for two decades.<ref name=":9">{{Cite news |url= https://www.outlookbusiness.com/enterprise/trend/spice-man-348 |title= Spice man – Outlook Business |last= Mathai |first= Adit |date= 20 July 2013 |work= thespicejournal |access-date= 14 July 2017 }}</ref> Initially it produced industrial chemicals before shifting to oleoresins.<ref name=":2">{{Cite news |url= http://www.business-standard.com/article/companies/synthite-eyeing-rs-3-000-cr-turnover-by-2020-113072900569_1.html |title= Synthite eyeing Rs 3,000 cr turnover by 2020 |date= July 29, 2013 |work= Business Standard |access-date= February 17, 2015 }}</ref> The oleoresin business was initially based on research by the Central Food Technological Research Institute in [[Mysore]]. However, the technology developed was not yet mature, and it took several years of additional research and development by Synthite to make the technology viable. It took another four years before they convinced food producers that they could produce quality products on time.<ref name=":1" /> |
The company was established in 1972 with 20 employees. It was founded by C. V. Jacob who started the company after working in civil construction for two decades.<ref name=":9">{{Cite news |url= https://www.outlookbusiness.com/enterprise/trend/spice-man-348 |title= Spice man – Outlook Business |last= Mathai |first= Adit |date= 20 July 2013 |work= thespicejournal |access-date= 14 July 2017 }}</ref> Initially it produced industrial chemicals before shifting to oleoresins.<ref name=":2">{{Cite news |url= http://www.business-standard.com/article/companies/synthite-eyeing-rs-3-000-cr-turnover-by-2020-113072900569_1.html |title= Synthite eyeing Rs 3,000 cr turnover by 2020 |date= July 29, 2013 |work= Business Standard |access-date= February 17, 2015 }}</ref> The oleoresin business was initially based on research by the Central Food Technological Research Institute in [[Mysore]]. However, the technology developed was not yet mature, and it took several years of additional research and development by Synthite to make the technology viable. It took another four years before they convinced food producers that they could produce quality products on time.<ref name=":1" /> |
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=== 2008 === |
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It has grown to 450 [[crore]] and 1200 employees, with a 2012 goal of 1,000 crore.<ref name=":0" /> The company achieved this goal, with a total of 2,000 employees. The company only began selling directly to consumers in its native India in 2014.<ref name=":3">{{Cite news |url= http://timesofindia.indiatimes.com/business/india-business/Spice-exporter-Synthite-plans-domestic-market-entry/articleshow/36732541.cms |title= Spice exporter Synthite plans domestic market entry |last= Zacharia |first= Reeba |date= June 18, 2014 |work= The Times of India |access-date= February 17, 2015 }}</ref> Some of its major clients include Nestle, Bacardi and Pepsi.<ref name=":3" /> The company is currently run by the founder's son, Viju Jacob.<ref>{{Cite news |url= http://articles.economictimes.indiatimes.com/2014-10-12/news/54928795_1_oleoresins-us-market-xinjiang |title= Synthite to strengthen operations in Chinese and US markets |date= October 12, 2014 |work= The Economic Times of India |access-date= February 17, 2015 |archive-url= https://web.archive.org/web/20160625004817/http://articles.economictimes.indiatimes.com/2014-10-12/news/54928795_1_oleoresins-us-market-xinjiang |archive-date= 25 Jun 2016 |url-status=dead }}</ref> |
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=== 2012 === |
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Commissioned its first overseas production facility in [[Xinjiang]], [[China]] with a production capacity of 550 tonnes per annum of [[paprika]] oleoresins.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/cons-products/food/synthite-to-strengthen-operations-in-chinese-and-us-markets/articleshow/44789632.cms|title=Synthite to strengthen operations in Chinese and US markets|date=2014-10-12|work=The Economic Times|access-date=2018-04-24}}</ref><ref name=":0" /> |
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=== 2014 === |
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Started its first sales office in Brasil and LATAM, based in the city of [[Valinhos]] in [[São Paulo]]. |
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=== 2018 === |
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They inaugurated it's blending facility in the same location producing up to 190 tonnes per annum of oleoresin and essential oil blends.<ref>{{Cite web |title=Inauguration of the new GMP Blending facility at Valinhos- São Paulo, Brasil |url=http://www.synthite.com/synthite/our-story/news-and-events/Inauguration-of-the-new-GMP-Blending-facility-at-Valinhos--S-o-Paulo--Brasil.html |access-date=2022-04-18 |website=www.synthite.com}}</ref> |
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=== 2019 === |
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Synthite started its third manufacturing facility located at [[Wucheng County|Wucheng county]] in [[Dezhou]] in China's [[Shandong]] province.<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/politics-and-nation/modi-xi-to-meet-next-week-at-sco-summit-ambassador/articleshow/69678437.cms|title=Modi, Xi to meet next week at SCO summit: Ambassador|date=2019-06-06|work=The Economic Times|access-date=2019-10-24}}</ref> It was inaugurated by Indian Ambassador to China [[Vikram Misri]] along with local Chinese government officials.<ref>{{Cite web|url=https://www.hindustantimes.com/india-news/india-china-trade-to-cross-100-billion-this-year-envoy/story-1xIRPH7l0Y5MRyFC2rDB5H.html|title=India-China trade to cross $100 billion this year: Envoy|date=2019-06-06|website=Hindustan Times|language=en|access-date=2019-10-24}}</ref> Some observers quoted by ''Outlook'' an Indian magazine feel that the company has over-invested in capacity, increasing their costs.<ref name=":1" /> |
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== Trade union strike == |
== Trade union strike == |
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Revision as of 19:32, 10 June 2022
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 Corporate Office of Synthite Industries Ltd in Kolenchery, Kerala, India | |
| Company type | Privately held company |
|---|---|
| Industrie | Fertigungsindustrie |
| Gegründet | 1972 |
| Gründer | Late. C V Jacob |
| Hauptsitz | Kolenchery, Kochi, India |
Area served | Worldwide |
Key people |
|
| Produkte | Value Added Spice Extracts (Oleoresins) |
| Website | http://www.synthite.com |
Synthite Industries Private Ltd. is an Indian oleoresin extraction firm, supplying ingredients to food, fragrance and flavour houses. The company is based in Kochi. In 2008, it had 30% of the world's market share.[1][2]
History
1972
The company was established in 1972 with 20 employees. It was founded by C. V. Jacob who started the company after working in civil construction for two decades.[3] Initially it produced industrial chemicals before shifting to oleoresins.[4] The oleoresin business was initially based on research by the Central Food Technological Research Institute in Mysore. However, the technology developed was not yet mature, and it took several years of additional research and development by Synthite to make the technology viable. It took another four years before they convinced food producers that they could produce quality products on time.[2]
2008
It has grown to 450 crore and 1200 employees, with a 2012 goal of 1,000 crore.[1] The company achieved this goal, with a total of 2,000 employees. The company only began selling directly to consumers in its native India in 2014.[5] Some of its major clients include Nestle, Bacardi and Pepsi.[5] The company is currently run by the founder's son, Viju Jacob.[6]
2012
Commissioned its first overseas production facility in Xinjiang, China with a production capacity of 550 tonnes per annum of paprika oleoresins.[7][1]
2014
Started its first sales office in Brasil and LATAM, based in the city of Valinhos in São Paulo.
2018
They inaugurated it's blending facility in the same location producing up to 190 tonnes per annum of oleoresin and essential oil blends.[8]
2019
Synthite started its third manufacturing facility located at Wucheng county in Dezhou in China's Shandong province.[9] It was inaugurated by Indian Ambassador to China Vikram Misri along with local Chinese government officials.[10] Some observers quoted by Outlook an Indian magazine feel that the company has over-invested in capacity, increasing their costs.[2]
Trade union strike
The Synthite Industries Employees’ Union (affiliated to CITU) had called a strike in the first week of April after seven employees were transferred to other states.[11] The 37-day-long strike was called off after talks held in the presence of the labour commissioner and turned violent.[12][13][14]
References
- ^ a b c "Synthite group targets Rs. 1,000 crore revenue". The Hindu. December 21, 2008. Retrieved February 17, 2015.
- ^ a b c Mathai, Adit (July 20, 2013). "Spice ManKerala-based flavouring company Synthite is banking on its Chinese expansion to triple revenues by 2020". Outlook Business.
- ^ Mathai, Adit (20 July 2013). "Spice man – Outlook Business". thespicejournal. Retrieved 14 July 2017.
- ^ "Synthite eyeing Rs 3,000 cr turnover by 2020". Business Standard. July 29, 2013. Retrieved February 17, 2015.
- ^ a b Zacharia, Reeba (June 18, 2014). "Spice exporter Synthite plans domestic market entry". The Times of India. Retrieved February 17, 2015.
- ^ "Synthite to strengthen operations in Chinese and US markets". The Economic Times of India. October 12, 2014. Archived from the original on 25 Jun 2016. Retrieved February 17, 2015.
- ^ "Synthite to strengthen operations in Chinese and US markets". The Economic Times. 2014-10-12. Retrieved 2018-04-24.
- ^ "Inauguration of the new GMP Blending facility at Valinhos- São Paulo, Brasil". www.synthite.com. Retrieved 2022-04-18.
- ^ "Modi, Xi to meet next week at SCO summit: Ambassador". The Economic Times. 2019-06-06. Retrieved 2019-10-24.
- ^ "India-China trade to cross $100 billion this year: Envoy". Hindustan Times. 2019-06-06. Retrieved 2019-10-24.
- ^ "CITU protest at Synthite Industries' plant turns violent in Kerala". Indian Express. 2018-04-29. Retrieved 2018-04-06.
- ^ "Industries decry Synthite Industries Ltd strike". Deccan Chronicle. 2018-06-06. Retrieved 2018-06-06.
- ^ "Synthite threatens closure of factory after fresh strike". Times of India. 2018-06-06. Retrieved 2018-06-06.
- ^ "Synthite strike: Talks remain inconclusive". Indian Express. 2018-04-29. Retrieved 2018-06-06.