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Synthite

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This is an old revision of this page, as edited by Eatthecrow (talk | contribs) at 22:24, 12 February 2024 (→‎History and Growth: capitalization in header). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Synthite
Company typePrivately held company
IndustrieFertigungsindustrie
Gegründet1972
GründerC V Jacob
HauptsitzKolenchery, Kochi, India
Area served
Worldwide
Key people
  • Late C V Jacob
  • (Chairman)
  • Dr. Viju Jacob
  • (Managing Director)
ProdukteValue added spice extracts (oleoresins)
Websitehttp://www.synthite.com

Synthite Industries Private Ltd. is an Indian oleoresin extraction firm, world’s largest producer of spice extracts, spice powders, and essential oils. Synthite has footprints in India, China, Brazil, USA, Vietnam and Sri Lanka. The company directly employs 2000 people and supports a farmer community of around 14000. In 2008, Synthite had 30% of the world's market share.[1][2] Some of its major clients include Nestle, Unilever, ITC, Bacardi and Pepsico.[3] The company is currently run by the founder's son, Dr. Viju Jacob.[4] and is headquartered in Kochi, India.

History and growth

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.[5] Initially it produced industrial chemicals before shifting to oleoresins.[6] 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]

In 2018, Synthite inaugurated it's blending facility in Sao Paulo, Brazil producing up to 190 tonnes per annum of oleoresin and essential oil blends.[7]

The following year, the company started its third manufacturing facility located at Wucheng county in Dezhou in China's Shandong province.[8] It was inaugurated by Indian Ambassador to China Vikram Misri along with local Chinese government officials.[9] 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, 2018 after seven employees were transferred to other states.[10] The 37-day-long strike was called off after talks held in the presence of the labour commissioner and turned violent.[11][12][13]

References

  1. ^ "Synthite group targets Rs. 1,000 crore revenue". The Hindu. December 21, 2008. Retrieved February 17, 2015.
  2. ^ 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.
  3. ^ Zacharia, Reeba (June 18, 2014). "Spice exporter Synthite plans domestic market entry". The Times of India. Retrieved February 17, 2015.
  4. ^ "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.
  5. ^ Mathai, Adit (20 July 2013). "Spice man – Outlook Business". thespicejournal. Retrieved 14 July 2017.
  6. ^ "Synthite eyeing Rs 3,000 cr turnover by 2020". Business Standard. July 29, 2013. Retrieved February 17, 2015.
  7. ^ "Inauguration of the new GMP Blending facility at Valinhos- São Paulo, Brasil". www.synthite.com. Retrieved 2022-04-18.
  8. ^ "Modi, Xi to meet next week at SCO summit: Ambassador". The Economic Times. 2019-06-06. Retrieved 2019-10-24.
  9. ^ "India-China trade to cross $100 billion this year: Envoy". Hindustan Times. 2019-06-06. Retrieved 2019-10-24.
  10. ^ "CITU protest at Synthite Industries' plant turns violent in Kerala". Indian Express. 2018-04-29. Retrieved 2018-04-06.
  11. ^ "Industries decry Synthite Industries Ltd strike". Deccan Chronicle. 2018-06-06. Retrieved 2018-06-06.
  12. ^ "Synthite threatens closure of factory after fresh strike". Times of India. 2018-06-06. Retrieved 2018-06-06.
  13. ^ "Synthite strike: Talks remain inconclusive". Indian Express. 2018-04-29. Retrieved 2018-06-06.
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