The company is using the Business Recovery Services unit of PricewaterhouseCoopers to cut $250 million in costs, including "optimizing the costs of goods sold, reducing operating expenses and streamlining the business portfolio," per Amyris.
Global manufacturer of fragrance and cosmetic ingredients Givaudan has reached an agreement with Amyris to acquire major cosmetic ingredients from the biotech company, including high performance emollient Neossance Squalane, plant-based silicone alternative Neossance Hemisqualane and sustainable sun protector CleanScreen.
In addition, Givaudan and Amyris have signed a long-term partnership agreement under which Amyris will continue to manufacture cosmetic ingredients for Givaudan, as well.
Aprinnova Creates Clean Sun Protection with CleanScreen Z60SF cosmeticsandtoiletries.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cosmeticsandtoiletries.com Daily Mail and Mail on Sunday newspapers.