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[Alpha Biz=(Chicago) Reporter Kim Jisun] A local plant in China, which was created by global cosmetics research, development and production company Cosmax with China's Yatsen Group, has begun full-scale operation.
COSMAX announced on the 13th that the new plant, which was recently completed at the Mingju Industrial Development Institute in Guangzhou, China, has officially begun operation.
Previously, Cosmax established a joint venture (JV) with a capital of 400 million yuan (about 73.4 billion won) with China's Yatsen Group in 2020 and pushed for the establishment of the plant. The newly launched plant is the largest single cosmetics plant in Asia with a size of 60,593㎡ (18,320 pyeong).
Cosmax completed the new plant six years after the completion of its second plant in Shanghai, China in 2017, and has applied eco-friendly and smart technology that combines 30 years of manufacturer development production (ODM) know-how. From resource-saving facilities including solar power generation to purification facilities that can minimize water and air pollution. Automation processes and logistics systems were also applied.
Currently, the first production plan is about 5 million units per month and will gradually expand production to 30 million units per month (400 million units per year). The number of employees is expected to reach 2,500 when producing 30 million units.
Yatsen Group, in cooperation with Cosmax, plans to expand its brand portfolio and become a global cosmetics company based on the plant's operation.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
