The Calhoun County Economic Development Council announces an additional $101 million investment by Kronospan in Oxford, Alabama. Last week, the Oxford City Council approved an amendment to a tax abatement that was granted in 2016 for Kronospan’s $362 million expansion. The original expansion plan created 160 new jobs. Kronospan recently returned to the council asking for an amendment to the abatement, stating that the investment has increased by $101 million and will add 150 additional jobs to their Oxford, Alabama headquarters.
This brings their Grow Bama project to a $463 million dollar investment, creating a total of 310 jobs for Calhoun County.
Tim Pack, Chief Financial Officer for Kronospan, said since the company began operations here in 2008, their total investment is approximately $800 million. He explained Kronospan’s Oxford facility is the most vertical laminate flooring manufacturer in North America, performing all necessary processes at the Oxford, AL site; from preparation of wood chips to production of the final laminate floor product. Kronospan prides itself on a start to finish product.
Their laminate flooring can be found worldwide, yet also locally at home improvement chain stores Lowe’s and Home Depot.
Kronospan is a leading manufacturer of wood-based panel products and related value-added products. The Company is privately-owned, with more than 40 manufacturing and distribution sites throughout the world. Kronospan is the top manufacturer globally of MDF, laminate flooring, particleboard and UF resins for wood-based panels; and is the top manufacturer in Europe of OSB.
In 2008, Kronospan started up operations at its Oxford, AL, facility, where it now manufactures MDF, HDF, laminate flooring, and resins. Notwithstanding very difficult market conditions in the housing industry, Kronospan has maintained its level of employment at the Oxford facility since start-up. Upon completion of the expansion project, Kronospan’s site will represent the largest private capital investment in the City of Oxford and Calhoun County and will be one of the largest employers in the area.
For more information about Kronospan, visitwww.kronospan-worldwide.co