South Korean cosmetics manufacturer Cosmax USA has opened its first US-based plant in a former L’Oreal factory in Ohio.
Cosmax USA has four factories in China and Indonesia and produces cosmetics for more than 200 brands worldwide, including L’Oreal, Estée Lauder, and Procter & Gamble. The company bought the 330,000 square foot facility, located in Solon, northwest Ohio, from L’Oreal for US$7 million. Cosmax USA plans to employ 150 people at the new plant.
Kyong-Soo Lee, Chairman and Cosmax founder, commented, “We will produce the highest-quality products from Solon and contribute to the development of the area.”
Lieutenant Governor of Ohio, Mary Taylor, praised the development, adding, “The unemployment rate is down to 4.8 percent. We have been working together to lower taxes, balance our budget, be fiscally strong, and of course, I am personally devoted to getting rid of all the rules and red tape and regulation that stand in the way of business creation.”