CARTERET – Mayor Dan Reiman recently welcomed COSMAX Chairman Kyung-Soo Lee in a visit to the borough, where the firm’s recent and future expansion is expected to create more jobs.
COSMAX, a South Korea-based cosmetics company that specializes in innovative formulas and generates $3 billion in annual revenue through operations in 16 countries, purchased Carteret-headquartered NuWorld Beauty in 2017.
Having officially changed its name on Jan. 1 to COSMAX USA, the Carteret plant recently completed a 9,000-square-foot renovation that created 25 new jobs. A second major expansion project that will increase the size of the 139,000-square-foot plant by more than 25 percent is aimed at enhancing technology, increasing production capacity, and is expected to further increase the number of jobs available.
“We were happy to see that COSMAX USA is expanding in Carteret and look forward to helping them build on the success they’re already experiencing operating in the Borough,” Reiman said in a statement.
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COSMAX USA is transitioning operations from a contract packaging base to the innovative cosmetics formulas for which COSMAX is known worldwide.
“We’re starting to put the right machinery in place to do that because the forecast is that it’s catching on in the United States,” Director Richard Kuohn said. “The chairman has aspirations to expand operations in New Jersey and Carteret continues to be an ideal location for that from a business and staffing standpoint.”
COSMAX USA’s clients include Victoria’s Secret and Macy’s.
This article originally appeared on MyCentralJersey.com: COSMAX USA Carteret NJ expansion expected to create jobs