Contract manufacturer COSi’s fortunes have taken another turn for the worse after it announced it has sold its business activities to Dutch manufacturer Budelpack.
Under the agreement COSI’s cosmetics plant in Maesteg, South Wales, will transfer to Budelpack. The site employs 560 employees and manufactures colour cosmetics, fragrance and toiletries. In January 2007, COSi invested in expanding operations there as part of plans to double its turnover by 2010.
COSi’s smaller plant in Littlehampton, UK is to be wound down after plans to acquire a buyer were not secured.
Budelpack hopes the acquisition will enhance its product service portfolio and strengthen its position in the personal care market.