(Alliance News) - Intercos Spa announced Monday that it has signed a new business agreement with The Estée Lauder Companies.

With this new agreement, The Estée Lauder Companies has decided to transfer most of the production of cosmetic powders previously done in-house to the U.S., outsourcing the production of the powders to Intercos America Inc.

The agreement further seals the strategic partnership between The Estée Lauder Companies and Intercos that has lasted more than 40 years, confirming Intercos' global leadership in the cosmetic powders segment, a product category that requires investment in innovation and established know-how.

Intercos stock is up 1.6 percent at EUR13.82 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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