Lubrizol and PROYA Further Strategic Partnership

<ul> <li>Lubrizol and PROYA sign memorandum of understanding to further strategic partnership, building on a successful 20-year history</li> <li>The companies will collaborate to innovate and market beauty products that meet local market needs and regulatory requirements, driving sustainable business and industry growth</li> </ul>

Lubrizol, a leading specialty chemicals company, and PROYA Cosmetics Co., Ltd. (“PROYA”), a leading China cosmetics company, have furthered their strategic partnership through a Memorandum of Understanding (MOU). Building on a successful 20-year relationship, both companies will leverage their respective strengths to accelerate the innovation of market-oriented beauty products, driving sustainable growth for both companies and the beauty industry. 

PROYA focuses on research and development, manufacturing and commercialization of beauty products, including skincare, make-up, body & hair, and high-efficacy skincare, to meet the needs of wide range of consumers. In combination 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 organizations.  

 “PROYA is committed to cooperating with global industry leaders to remain at the forefront of innovation and provide customers with unparallelled experience,” said Yameng Hou, Deputy General Manager, PROYA. “PROYA has relied on Lubrizol’s scientific expertise and quality ingredients since our inception and look forward to continuing to offer consumers leading solutions based on the expertise of both organizations.” 

“Lubrizol works closely with likeminded partners to deliver sustainable solutions and breakthrough innovations that improve well-being and enhance modern life, and we look forward to delivering on that purpose with PROYA.” Henry Liu, APAC Vice President, Lubrizol, said, “Since PROYA’s inception 20 years ago, we have collaborated successfully to improve consumer beauty experiences and enabled new innovation that meets the trends and needs of China's cosmetic industry.” 

Lubrizol has invested in the Chinese market for over 30 years and brings nearly a century of proven innovation and performance. The company has a tenured China and APAC-based team well attuned to the local market and continues to strengthen its local-for-local manufacturing, technical services and innovation capability in China.  

Photo: Lubrizol and PROYA signs a Memorandum of Understanding (MOU) for strategic cooperation. (From left to right) Aiqin Fang (Co-Founder of PROYA), Yameng Hou (Deputy GM of PROYA), Henry Liu (APAC Vice President, Lubrizol), Rebecca Liebert (CEO, Lubrizol) attend the signing ceremony. 

About The Lubrizol Corporation

The Lubrizol Corporation, a Berkshire Hathaway company, is a science-based company whose specialty chemistry delivers sustainable solutions to advance mobility, improve well-being and enhance modern life. Every day, the innovators of Lubrizol strive to create extraordinary value for customers at the intersection of science, market needs and business success, driving discovery and creating breakthrough solutions that enhance life and make the world work better. Founded in 1928, Lubrizol has global reach and local presence, with more than 100 manufacturing facilities, sales and technical offices and 8,000 employees around the world. For more information, visit www.Lubrizol.com.

News Categories: <a href=/Newscenter/News-and-Insights?category=Beauty+and+Personal+Care>Beauty and Personal Care</a>