Austria-based Kronospan, a leading manufacturer of wood-based panel products, will invest $362 million to expand its production plant in Calhoun County, Alabama. The company plans on adding 160 associates to its workforce.
The company plans to expand its two laminate flooring and decorative paper impregnation lines, in addition to its particleboard and thermally infused laminate line. The project is also designed to enlarge the firm’s resin plant.
“We sincerely appreciate the State of Alabama, acting through Alabama Department of Commerce, the City of Oxford and Calhoun County for supporting our expansion project and making it a reality,” said Tim Pack, Kronospan’s Chief Financial Officer.
Once the expansion is complete, the company will have invested $650 million in Alabama and its workforce will number 270 people, according to the Calhoun County Economic Development Council.
Calhoun County EDC Chairman Larry Deason said the expansion will make Kronospan the largest private capital investor in Oxford and one of the area’s largest employers.
“Kronospan is making a significant investment to expand its production center in Oxford, and we will work closely with the company to ensure that their project is successful,” said Greg Canfield, Secretary of the Alabama Department of Commerce.
“We look forward to building on the partnership we have developed with Kronospan since they began operations in Alabama around eight years ago,” he added.
The Alabama Career Center in Anniston will assist Kronospan as it recruits applicants for the jobs created by the expansion.