Synthite group targets Rs. 1,000 crore revenue

The group has entered into tie-ups with global majors

 
WIDE FOCUS: Director of the Synthite group George Paul at a meeting held recently in Kochi

KOCHI: The Kochi-based Synthite group is aiming for business revenue of Rs.1,000 crore by 2012.

Talking to reporters here on Friday, George Paul, director of the company, said Synthite had 30 per cent share in world market for spice oleoresin category.

From a modest beginning in 1972, with one unit of 20 employees in a village at Kadayiruppu in Kolenchery, it has grown to a Rs.450-crore concern with 1,200 direct employees and six manufacturing units across the southern parts of the country.

Synthite Industries Ltd, the flagship company of the group, has over 500 products, including spice oleoresins, essential oils, natural food colours, floral absolutes, health ingredients and micro encapsulated/spray dried products.

It was the first food company in the country to obtain ISO 9001 certification.

Now it offers Fairtrade and Organic certified products.

Over the years, the company has diversified its activities with forays into realty and hospitality sectors.

It has entered into strategic tie-ups with global majors.

Synthite has entered into joint ventures with Aromco of the U.K. for the manufacture of sweet flavours and Omega Food Technology, Austria, for the manufacture of savoury flavours.

The 36-year-old spice oleoresin giant has now unveiled its new logo and corporate identity, Mr. Paul said.

It has also institutionalised its commitment to corporate social responsibility by establishing the CVJ Foundation.