heard they were not bounced!!! S.C.J.tried to put a squeeze play on them with the plug-ins biz.they wanted the rights to it,but wouldn't let IFF be the sole supplier.anybody else heard anything like that,and please let us know if that is the reason.
Heard IFF was bounced out of S.C Johnson recently. This is a big ass company, and IFF was one of three primary suppliers. Thus, they always had a one in three chance of pulling in a W. This can not bode well for these guys in the fragrance area. Any thoughts?
October 5, 2001
International Flavors & Fragrances Inc. (IFF)is filing today information regarding a reported class action brought against it in Circuit Court of Jasper County, Missouri, on behalf of employees of a plant owned and operated by Gilster-Mary Lee Corp. in Jasper, Missouri.
The plaintiffs are alleging that they have sustained respiratory injuries in the workplace. IFF believes that the litigation
is without merit.
IFF's flavors meet the requirements of the U.S. Food and Drug Administration. IFF's flavors are safe for handling and use by workers in food manufacturing plants when used according to specified safety procedures.
Based on the preliminary report issued by the National Institute for Occupational Safety and Health (NIOSH), IFF believes that any injuries the plaintiffs may have suffered are related to inadequate workplace conditions.
The Company is cooperating fully with the government agencies investigating the cause of the health complaints.
This case is in its earliest stages. IFF does not expect this litigation to have a material adverse affect on the Company's financial condition, results of operations or liquidity.
An a 8-K is a report of unscheduled material events or corporate changes which could be of importance to the shareholders or to the SEC. Examples include acquisition, bankruptcy, resignation of directors, or a change in the fiscal year, or in IFF's case it is a lawsuit that has potential financial implications.
This only means IFF has acknowledged the suit, and are making a statement to shareholders & investors that they do not believe this case will have any adverse affect upon their financial situation. This isn't done with any suit, so I believe this one has caught some attention from management.
Only time will tell......things are heating up in the popcorn plant now....
P.S. Have you seen the movie "A Civil Action"?
Very Truly Yours:
Here's another question. Without meaning to sound callous as this very tragic for the workers effected. BUT if it is true THE WORKERS are bringing a class action law suit against IFF - if it IS true - who advised them?
I might be a little niaive here but they should bring it against THEIR OWN company. I say again, the likely issue is the manufacturing process and the worker's protection, not the company who supplies a component.