France-based Albéa Group has announced the termination by mutual consent of “a non-strategic subcontracting agreement” with the North American specialist of injection moulding SussexIM, in cosmetic compact.
This agreement was entered into back in 2009 by Rexam Beauty & Closures, now known as Albéa Thomaston. At that time, SussexIM completed a partial management buyout with Rexam, including the supplying agreement.
Furthermore, SussexIM purchased from Albéa Thomaston “a limited number of toolings and equipments previously used by SussexIM to perform the subcontracting agreement.” According to SussexIM, this includes an “Innovation Center” that will return to its headquarters.
“The return of these development resources and flexible innovation capabilities to our home base will help facilitate new cosmetic product development,” commented SussexIM’s President and Founder, Keith Everson.
While the agreement gives SussexIM the autonomy to deal directly with cosmetics customers, it will remain bound by non-solicitation and non-competition obligations for certain customers and compacts to the benefit of Albéa.
“Albéa continues to reinforce its global footprint in Cosmetics, especially in compacts, and remains a world leader with a unique global footprint in Europe, Americas, Asia,” says the group in a release.