->Issit123 at 15:28, 28 December 2021

2021-12-28T15:28:51Z

← Older revision		Revision as of 20:58, 28 December 2021
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	\| industry = Manufacturing		\| industry = Manufacturing
	\| founded = 1972		\| founded = 1972
	\| founder = C V Jacob~~( died on 31st January 2021)~~		\| founder = Late. C V Jacob
	\| hq_location = Kolenchery, Kochi, India		\| hq_location = Kolenchery, Kochi, India
	\| area_served = Worldwide		\| area_served = Worldwide

imported>Siddhart pandey: Removed promotional material

2021-03-17T11:22:03Z

Removed promotional material

New page

{{COI|date=July 2018}}

{{Infobox company
| name = Synthite
| logo = Synthite.jpg
| image = Synthitecorpofc.jpg
| image_caption = Corporate Office of Synthite Industries Ltd in Kolenchery, Kerala, India
| type = Privately held company
| industry = Manufacturing
| founded = 1972
| founder = C V Jacob( died on 31st January 2021)
| hq_location = Kolenchery, Kochi, India
| area_served = Worldwide
| key_people = {{unbulleted list|C V Jacob|<small>(Chairman)</small>|Mr Jacob|<small>(Managing Director)</small>}}
| products = 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.<ref name=":0">{{Cite news |url= http://www.thehindu.com/todays-paper/tp-business/article1398963.ece |title= Synthite group targets Rs. 1,000 crore revenue |date= December 21, 2008 |work= The Hindu |access-date= February 17, 2015 }}</ref><ref name=":1">{{Cite news |url= http://www.outlookbusiness.com/printarticle.aspx?286619 |title= Spice ManKerala-based flavouring company Synthite is banking on its Chinese expansion to triple revenues by 2020 |last= Mathai |first= Adit |date= July 20, 2013 |work= Outlook Business}}</ref>

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" />

By 2008, 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>

In 2012, Synthite 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" />

In 2019, 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" />

== 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.<ref>{{Cite news|url=http://www.newindianexpress.com/cities/kochi/2018/jun/04/citu-protest-at-synthite-industries-plant-turns-violent-in-kerala-1823360.html|title=CITU protest at Synthite Industries' plant turns violent in Kerala|date=2018-04-29|work=Indian Express|access-date=2018-04-06}}</ref> The 37-day-long strike was called off after talks held in the presence of the labour commissioner and turned violent.<ref>{{Cite news|url=https://www.deccanchronicle.com/nation/in-other-news/060618/industries-decry-synthite-industries-ltd-strike.html|title=Industries decry Synthite Industries Ltd strike|date=2018-06-06|work=Deccan Chronicle|access-date=2018-06-06}}</ref><ref>{{Cite news|url=https://timesofindia.indiatimes.com/city/kochi/synthite-threatens-closure-of-factory-after-fresh-strike/articleshow/64473620.cms|title=Synthite threatens closure of factory after fresh strike|date=2018-06-06|work=Times of India|access-date=2018-06-06}}</ref><ref>{{Cite news|url= http://www.newindianexpress.com/states/kerala/2018/apr/29/synthite-strike-talks-remain-inconclusive-1807763.html|title=Synthite strike: Talks remain inconclusive|date=2018-04-29|work=Indian Express|access-date=2018-06-06}}</ref>

== References ==
{{Reflist}}

== External links ==
* {{Official website|http://www.synthite.com/}}

[[Category:Chemical companies of India]]
[[Category:Indian companies established in 1972]]

Synthite - Revision history

->Issit123 at 15:28, 28 December 2021

imported>Siddhart pandey: Removed promotional material