Sumitomo Corp. forms cosmetic ingredients distribution JV in Brazil

Sumitomo Corp. (Tokyo) says it has entered into an agreement with Cosmotec Especialidades Químicas (São Paulo), a leading supplier of cosmetic ingredients in Brazil, to form a joint cosmetic ingredient distribution business. Cosmotec will spin off its cosmetic ingredient distribution business into a separate company, in which Sumitomo will have a stake. Cosmotec, which was formed in 1987, operates a business focused on cosmetic ingredient distribution services and pet care in Brazil. Cosmotec sells ingredients as well as developed formulas to...

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