UL Solutions Inc. (NYSE: ULS) shares backpedaled Tuesday. The company, a global leader in applied safety science, today announced it has expanded capabilities at its site in Lombardy, Italy, to create the European Retail Center of Excellence, giving retailers, brands and manufacturers access to a broader portfolio of services designed for a technology-enabled and rapidly innovating consumer retail environment.
“Retail product innovation is moving faster and becoming more complex, especially as smart, connected and AI-enabled products reshape consumer expectations and regulatory requirements,” said Josh Warren, Vice President and General Manager, Retail and Consumer Products. “By expanding our capabilities in Italy to create the European Retail Center of Excellence, we are strengthening how we partner with customers earlier in the product life cycle, to help them bring products to market with confidence.”
According to this morning’s news release, “Building on 40 years of technical expertise, the Center of Excellence now gives customers access to an enhanced portfolio of testing, regulatory, advisory and sustainability offerings.
“By partnering with customers throughout the development life cycle, from product design through market readiness, the Center provides the technical expertise and regulatory insight to reduce complexity and support innovation across multiple product categories including furniture, apparel and cosmetics.”
ULS shares sank 22 cents to $73.86
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