Lubrizol, the specialty chemicals company, and PROYA Cosmetics, China's leading cosmetics company, have expanded their strategic partnership through a Memorandum of Understanding (MOU), a 20-year relationship.
Lubrizol says this continuity will help the two companies leverage their respective strengths to accelerate market-driven beauty product innovation, driving sustainable growth for both companies and the beauty industry.PROYA focuses on the research and development, manufacturing and marketing of beauty products, including skin care, make-up, body and hair care, and high-performance skin care, to meet the needs of a wide range of consumers. Combined with Lubrizol's strong expertise in formulation design, as well as focus on technology and application, the expanded strategic agreement is expected to bring mutual benefits to both organisations.
PROYA is committed to cooperating with global industry leaders to stay at the forefront of innovation and offer customers an unmatched experience," said Yameng Hou, PROYA assistant general manager, "PROYA has relied on Lubrizol's scientific expertise and quality ingredients since our inception and we look forward to continuing to offer consumers leading solutions based on the expertise of both organisations."
"Lubrizol Works closely with affine partners to offer solutions sustentables and revolutionary innovations that improve the welfare and enhance the modern life, and expect to fulfil this purpose with PROYA". Henry Liu, vice-president of APAC of Lubrizol, said: "From the creation of PROYA 20 years ago, have collaborated successfully to improve the experiences of beauty of the consumers and allowed new innovations that satisfy the tendencies and needs of the cosmetic industry of China."
Lubrizol Has invested in the Chinese market during more than 30 years and contributes almost a century of innovation and performance checked. The company has a permanent team in China and APAC that is in tuning with the local market and continues strengthening his local manufacture, his technical services and his capacity of innovation in China.