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TFS Corp. (Perth, Australia) has signed an agreement with Lush, the UK-based producer of fresh handmade cosmetics, for the supply of oil produced from TFS’s plantations. TFS will begin supplying Lush when the first commercial quantities of oil are available TFS’s plantations, which is anticipated to occur by 2011. From that date, Lush will purchase a minimum of 1 tonne of oil and up to a maximum of 15% of TFS’s oil production each year for five years. Lush is planning to create a new sandalwood-based product range using TFS’s oil.
Of the agreement, TFS executive chairman Frank Wilson said, “Following on from the collaboration agreement struck with Albert Vieille last year, the supply agreement with Lush demonstrates that we are progressively putting in place the necessary steps to make the transition from pure plantation manager and owner, through to a vertically integrated oil producer with blue chip customers in the global fine fragrance and cosmetics industry.”