Veteran industrialist and founder of Synthite Group, CV Jacob, passed away on Sunday. He was 88.
Jacob was the director of Cochin International Airport Ltd. (CIAL) and Vice Chairman of the Spices Board. According to reports, he passed away at his residence near Kolenchery on Sunday.
The 88-year-old leaves behind his his wife, two sons- Dr Viju Jacob, Managing Director of Synthite Industries Private Ltd and Aju Jacob, Director (Strategic Operations)-, besides four daughters.
Founded in 1972, Synthite, an oleoresin extraction firm,is the world's largest producer of value added spice extracts and natural spice powder with ventures in the food flavouring, real estate, wind energy and hospitality sectors. They supply ingredients to food, fragrance and flavour, across the world.
With an annual turnover of Rs 1,600 crore and a portfolio of 500-odd products from spice oleoresins, essential oils, natural food colours and functional food ingredients, the group has also established a private industrial park at Pangode near Kolenchery known as Synthite Taste Park.
Born in 1933, CV Jacob began his career in cardamom trade and auctions in 1950. One year later, at age 16, he took up his family business of civil engineering contracts. He specialised in tunnelling and bridges.
He later forayed into industrial manufacturing through Arborites (P) Ltd in 1965 to make urea-formaldehyde resin. In 1967, he established Slabs and Aggregates - a completely mechanised quarry and granite crushing unit which was the first of its kind to come up in Kerala.
Jacob ventured into the Spice Oleoresin industry, establishing the Synthite Industrial Chemicals (P) Ltd, now renamed Synthite Industries Ltd Spice Oleoresin in 1972.
Synthite now contributes to nearly half of India’s export of spice oleoresins and is equivalent to 30 percent of the world demand.
The funeral will be held on Monday.
Chief Minister Pinarayi Vijayan, condoled Jacob's death.