L’Oréal To Build Research Center In Rio De Janeiro

L’Oréal says it will build a research and innovation center on Bom Jesus Island in Rio de Janeiro. The L’Oréal Group, which has been operating in Brazil for 50 years, is hiring local specialized talent and scientific partnerships with the Federal University of Rio de Janeiro to pursue the work. The company will invest €30 million ($39 million) in building the center, and expects to create 150 direct jobs by 2015. A memorandum of understanding with the city of Rio is to acquire land with a total surface area of over 28,000 square meters. According to the company, the center will serve to accelerate the growth of innovative products tailored for the Brazilian and Latin American markets.