Benzinga | Jul 8, 2021 04:05PM EDT

AptarGroup Partners With Chinese Skincare Company YAT

* Drug delivery devices manufacturer AptarGroup Inc (NYSE:ATR) is collaborating with YAT, a Chinese Online Skincare Company, to develop a range of products and services for the skincare market.

* The partnership will combine YAT's product design and concept development capabilities and Aptar's packaging and dispensing solutions.

* The financial terms of the deal were not disclosed.

* Aptar will use YAT's market insight database, focused on specific consumer skincare needs and skincare profiles.

* "Aptar's breadth of experience in manufacturing high-quality solutions, including innovative solutions that contribute to a more circular economy, combined with YAT's extensive market insights, will enhance the growing portfolio of solutions and services we can bring to this market," said CEO Stephan Tanda.

* Price action: ATR shares closed lower by 1.24% at $139.27 on Thursday.