| Type | Public (NYSE: SXT) |
|---|---|
| Industry | Colors, Flavors and Fragrance |
| Founded | 1882 |
| Headquarters | Milwaukee, Wisconsin |
| Key people | Kenneth P. Manning, CEO |
| Products | Colors, Flavors and Fragrances |
| Revenue | $ 1,024 million (2005) |
| Employees | 3,500 worldwide |
| Website | www.sensient-tech.com |
Sensient Technologies (NYSE: SXT) is a global manufacturer and marketer of colors, flavors and fragrances based in Milwaukee, Wisconsin. Their products are used to make a diverse variety of foods and beverages, pharmaceuticals, cosmetics, home and personal care products, specialty printing and imaging products, computer imaging and industrial colors. Sensient reported revenue of $1,024 million in 2005.
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Sensient Technologies was founded in 1882 as Meadow Springs Distilling Company. In the late 19th century, the Company changed its name to National Distilling Company. By 1919 the company was threatened by prohibition but by then it had created a business selling yeast under the Red Star Yeast brand. Accordingly, the company changed its name to Red Star Yeast and Products Company.
By the 1960s, the company had become a highly diversified food company and changed its name again to Universal Foods Corporation. In 1977 the company listed its stock on the New York Stock Exchange(SXT).
Kenneth P. Manning, Sensient Technologies' Chairman and CEO, joined the Company in 1987 as Group Vice President. When Mr. Manning was named CEO of Universal Foods in 1996, he began steering the Company in a new direction by building upon its strengths and knowledge in the areas of color and flavor, and accelerating its expansion by making strategic acquisitions. Since 1997, the Corporation has acquired 20 companies.
In 2000 Universal Foods changed its name to Sensient Technologies Corporation. The name communicates the essence of the Company's products and services. Sensient enhances the SENSory experience of its customers' products by using state-of-the-art scIEnce to develop advanced ingredieNT systems.
Following this name change, Sensient sold Red Star Yeast in 2001. Sensient's acquisitions have dramatically strengthened its existing businesses and allowed it to enter new markets around the world. The acquisitions have provided the foundation for a transformed company whose focus is now on operations. Sensient is a specialty chemicals company that concentrates on core technologies and markets where it can add value.
Sensient Technology has had several major PR damaging incidents including suing employees for writing unfavorable remarks about the organization, and publicly attacking a securities analyst for an error in a report on their stock value history.[1][2] They also filed a lawsuit against an Oregon man for allegedly defaming the company on internet message boards. [3]