Chemical solutions supplier eyes Latin American market
The HallStar Company has announced plans to form a new joint venture in Brazil with Brazilian polymeric and monomeric compound specialist Scandiflex. The new joint venture, HallStar do Brazil will market the US company's wide range of personal care ingredients and will be based in Sao Paulo.
"Brazil is one of the fastest growing personal care markets in the world and we are very excited to bring our ingredients to Brazilian formulators and ultimately to Brazilian consumers," commented Hallstar ceo, John Paro.
Paro added that 22% of its business is done outside the US and that the company is also looking for acquisitions in Europe.
"We are actively looking for potential acquisitions in Europe," he told cosmeticsbusiness at Suppliers' Day in New Jersey. "We currently use distributors in this region but we are focusing on acquisitions for the future."
In other news, Hallstar has also formed a partnership with SurfaTech Corporation to create and market new multifunctional molecules for personal care formulations. The agreement is in association with Siltech and its founder Tony O'Lenick, and will initially focus on ways to use Hallstar's photostability technologies to create new sun care ingredients. The development team will be headed by O'Lenick and Hallstar's Craig Bonda.
"The combination of Tony and our technical team will generate some very interesting products for the industry," said Paro.