LONDON — Unilever, the Anglo-Dutch consumer products giant, has been authorized by the Cuban government to create a joint venture with Intersuchel SA, a local cosmetics production company.
The newly formed Unilever-Suchel S.A. will enter the Cuban market with personal and home-care categories from international brands such as Sedal and Rexona.
The company headquarters will be based in Mariel at Mariel Special Development Zone, an institution that promotes economic development through foreign investment. The company will create some 300 jobs and benefit the country’s economy by reducing imports.
A protocol notification ceremony took place to announce the creation of the company on Jan. 11, attended by representatives of both companies. Attendees also included the minister for trade and cooperation of Netherlands Lilianne Ploumen and the Netherlands’ ambassador in Cuba, Norbert Braakhuis.
A partnership had been in the talks for over a decade but in 2012 Unilever left Cuba due to a dispute over which company would maintain a controlling interest in this joint venture. It has now been agreed that Unilever will hold a majority 60 percent stake.