04:33 AM EDT, 03/27/2025 (MT Newswires) -- International Flavors & Fragrances ( IFF ) has formed a joint venture with Kemira to produce sustainable biobased materials at scale, the companies said Thursday.

The Alpha Bio joint venture will commence production late 2027 with a 130 million-euro ($139.9 million) investment.

The joint venture will operate as an independent entity in Kotka, Finland, the companies said.

International Flavors shares were up 1.1% in recent premarket activity.