Beiersdorf Invests More Than EUR60 Million in Hamburg Technology Center
November 19 2020 - 10:53AM
Dow Jones News
By Joshua Stein
Skincare company Beiersdorf AG will invest more than 60 million
euros ($71.1 million) into a new technology center in Hamburg,
Germany, to provide room for cosmetic innovation from outside of
the company.
The German company, which owns skincare brands including
Eucerin, Nivea and Elastoplast, said Thursday the new center will
invite cooperation from customers and institutions including
universities and research institutes.
"The excellent technical equipment will allow us to shorten the
time needed to develop and test prototypes and new products and to
make them marketable," Beiersdorf Chief Executive Stefan De Loecker
said.
Beiersdorf, which is a DAX company, said the technology center
will be finished by 2024. It will be part of the new Beiersdorf
Campus, which has received funding of over EUR500 million.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
November 19, 2020 10:38 ET (15:38 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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