Shares of Symrise, which on Wednesday forecast a 2023 core profit margin slightly below market expectations, dropped 3.7 percent at 0957 GMT, though the company’s chief executive said he did not expect the firm to be affected and its role was primarily that of a witness.
COMCO said several raids were carried out in conjunction with the European Commission, the U.S. Department of Justice Antitrust Division and the UK Competition and Markets Authority. It said that the ingredients in question are used in cosmetics, personal care products, detergents and cleaning products.
A Symrise spokesperson confirmed the group was part of the investigation and that it would cooperate with authorities.A spokesperson for IFF said the company was “working closely with relevant authorities and cooperating with their industry investigation”.