Cosmolux International SA announced its expansion strategy for 2030 on Thursday, on the occasion of His Royal Highness the Hereditary Grand Duke and Luxembourg's Minister of the Economy Franz Fayot's visit to the company's facilities in Echternach.
Established in the industrial zone in Echternach since 2001, Cosmolux International SA develops, produces and markets cosmetic and personal hygiene products for mass distribution which are sold by major retail chains. During a visit to its facilities on 25 March 2021 by the Hereditary Grand Duke and the Economy Minister, the managers of the company presented their expansion strategy for 2030 with an investment and financing of around €65 million.
Based on environmentally friendly production, this strategy provides for the expansion of bottling capacities, the own production of bottles, the addition of tube decanting equipment, the expansion of logistics capacities through the construction of an automated depot as well as the expansion of research and development skills. By 2030, it is thus planned to create an additional 270 jobs at the Echternach site in the long term.
International Can SA, specialising in the production of aluminum cans for the cosmetics industry, has been located on the same site as Cosmolux since 2015. The two companies are part of the German group MAXIM which in 2020 achieved a consolidated turnover of €300 million. In 2020, the MAXIM group began the final stage of its vertical integration strategy at its Luxembourg site by creating Cosmolux Logistics in order to further optimise the flow and transport of the materials produced. Currently, the MAXIM group employs a total of 330 people in Luxembourg.
During the visit, Economy Minister Franz Fayot said: “Considering what has been achieved in the past, the development of the MAXIM group in Luxembourg is a remarkable and revealing example of a family business. who knew how to recognise and take advantage of all the opportunities and advantages that the Grand Duchy has to offer. The managers as well as the employees of the MAXIM group agree perfectly with the 'Luxembourg way of doing' which is marked by pragmatism, the ability to adapt and the desire for permanent improvement, while taking advantage of the small size of the country, with its short paths, its close proximity to decision-makers and its unparalleled flexibility”.
Dr. Rolf Giesen, CEO of Cosmolux and Maxim Markenprodukte GmbH & Co., added: “So far we are very satisfied with our results in Luxembourg and we still see great potential for a long and successful future. term. Many thanks to the SNCI and the Echternach city council for their positive support - we would like to make Echternach the future headquarters of the MAXIM group. We look forward to continuing the fruitful collaboration with the Ministry of the Economy and Luxinnovation”.