ISP announces manufacturing alliance with India-based Vivimed
The manufacturing alliance will allow the two companies to jointly market specific products used in sprays and lotions that include UVA and UVB protective properties.
The agreement will also mean that from October of this year, New Jersey-based chemicals supplier ISP will add a number of UVA and UVB absorbers that are already manufactured by Vivimed to its portfolio of sun protection ingredients.
Vivimed taps into ISP sales and distribution
In turn Vivimed will benefit from tapping into ISP’s global sales, marketing and technical service team, extending ISP's distribution worldwide for a product portfolio that already numbers more than 500 chemicals.
“The manufacturing alliance with Vivimed Labs is beneficial for ISP in that it provides us with the capability to improve our sunscreen value offering in the marketplace,” said Robert Frick, senior vice president of supply chain at ISP.
“Working alongside Vivimed, we are better positioned to supply long-established sunscreen technologies to customers, and at the same time, produce ample supplies of our flagship technologies marketed under the Escalol trade name.”
India growth prompts overseas expansion
Indian chemical and ingredients companies have been enjoying significant growth in recent years, both off the back of demand from the growing domestic market for personal care, as well as international suppliers wanting to tap into lower costs associated with production in the country.
The growth has even led to a number of examples of Indian ingredients and chemicals suppliers buying up Western counterparts as their businesses continue to grow at accelerated rates.
One such example of this is Mumbai-based Galaxy Surfactants, which last year bought up another New Jersey-based company, Tri-K Industries, in a move aimed at expanding the global footprint of the Indian company.
