IFF announced the completion of the divestiture of its nitrocellulose business, including the Walsrode Industrial Park in lower Saxony, Germany, to Czechoslovak Group (CSG). This business, previously part of IFF’s Pharma Solutions business unit, manufactures nitrocellulose for industrial purposes, serving customers in coatings and printing inks.
CEO Erik Fyrwald stated that the divestiture builds upon IFF's deleveraging journey and enables the company to focus on its core businesses. This move is consistent with IFF's strategic reset to optimize its portfolio.
The completion of this sale further contributes to IFF's efforts to strengthen its balance sheet and allocate resources more effectively to its high-growth, innovation-driven segments.
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