The Sumitomo Corporation of America (SCOA) has acquired a 20% minority stake in C&T speciality ingredients supplier Presperse Inc, an investment that will strengthen Presperse’s R&D capability as a creative formulator and developer of new functional ingredients.
“The new partnership with SCOA provides us with new opportunities to reach into global markets and source new innovative products by utilising SCOA’s well established global supply network,” said Presperse chairman Jeanette Black and ceo Stuart Axelrod. “At the same time the expansion and streamlining of our supply chain will improve service levels both domestically and internationally through our service partners in Europe, Asia, Latin America, Australia and Africa.
Tatsuya Suto, senior vp and general manager of chemicals group, SCOA added: “Our knowledge and expertise in the area of compliance in the speciality chemical industry will also help to further enhance Presperse’s international standardisation in the cosmetic and personal care field, as well as comply with international regulatory trends such as REACH in the EU and TSCA/FDA in the US.”