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Cosmetics giant L'Oreal completes 200m yuan Hubei factory expansion
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COSMETICS group L'Oreal said it has completed a 200 million yuan (US$32 million) expansion project of its production facility in central China's Hubei Province as it taps growing demand in the domestic personal care market.
The 70,000-square-meter Hubei production plant has become the cosmetics giant's largest manufacturing facility in Asia, the company said in a statement yesterday.
It has an annual capacity of 250 million units of cosmetics products.
China is currently the third biggest market for L'Oreal as the company expands into the world's second-largest economy to boost sales.
The French company has two factories in China with another one in Suzhou in Jiangsu Province.
Earlier this year, the cosmetics company said it has agreed to buy Chinese skincare company Magic Holdings International for US$840 million to strengthen its skin care sector.
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