Essex County Company Buys Building After 20 Years Of Leasing

FAIRFIELD, NJ — Essex County-based Consumer Product Testing Company (CPTC), a family-owned business that employs 128 workers, has purchased a permanent location in Fairfield after leasing the facility for two decades, the company recently announced.

Through the New Jersey Economic Development Authority (EDA) Premier Lender Program, CPTC purchased the 44,000-square-foot facility in Fairfield it had been leasing for 20 years. Bank of America provided a $4.1 million loan that included a 44 percent EDA participation, according to a company news release.

In addition to mortgage financing, Bank of America also provided CPTC with a line of credit to purchase equipment, CPTC stated.

CPTC tests cosmetics, personal care, pharmaceuticals, medical devices and specialty chemicals; it’s been in business since 1975. It’s regulated by the U.S. Food and Drug Administration, Environmental Protection Agency and Drug Enforcement Agency, and also offers analytical chemistry, clinical safety efficacy, claims validation, photobiology, microbiology, sterility testing, and in-vitro toxicology testing services, the company stated.

CPTC Chairman Melvin Weiss said that the company’s Clinical Evaluation department adds more than $3 million “to the economic growth of northern New Jersey” every year.

“We are thankful to the EDA and Bank of America for helping us continue to grow,” Weiss said.

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Photo: Flickr / Diana Parkhouse