DSM-Firmenich Accelerates the Restructuring of its Vitamin Business

Recently, DSM-Firmenich provided an update on its business performance for the second quarter of 2023. The company stated that the vitamin market has further weakened, and as a result, they anticipate an adjusted EBITDA loss of RMB 1.58 billion yuan (USD $220 million) for the first half of the year, compared to RMB 9.25 billion yuan (USD $ 1.28 billion) in the same period last year. The company also announced an accelerated restructuring of its merged vitamin business, which includes the closure of the vitamin B6 factory in Shanghai’s Xinghuo site. Additionally, they have decided to explore a range of strategic options for their Jiangshan factory, which produces vitamin C, including establishing partnerships or utilizing the manufacturing assets of the facility. It was noted that vitamin C production in Jiangshan, China, has significantly reduced since the end of 2022 and was completely halted in mid-May. (Source: Foodaily)

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