The Oxford City Council has approved tax abatements, paving the way for a $350 million expansion at Kronospan’s plant in the city.
A new Oriented Strand Board manufacturing plant is planned for Kronospan’s 460-acre site, creating 125 new jobs and bringing Kronospan’s total employment in Oxford to about 600 people.
Kronospan, with numerous international locations, produces wood panel products and calls its Oxford facility the largest and most vertically integrated wood products site in North America.
“We’re very pleased to announce the next project at our Oxford site,” says Hans Obermaier, CEO of Kronospan’s North American companies. “This is not only an opportunity to further expand our portfolio of wood panel products in the United States, but also meets our customers’ growing need for high quality construction materials. Just like the other plants on our site, the OSB plant will be constructed with our sustainability principles in mind and will further enhance our negative carbon footprint status.”
Oxford Mayor Alton Craft says Kronospan has been a boon to the Oxford community since beginning operations there in 2008.
“This latest investment by Kronospan pushes them over the $1 billion mark, and that speaks for the quality and commitment from this company to our community,” he said. “We are 100% behind them as they continue to expand their capabilities, and we are grateful that they consistently have chosen to do so right here in Oxford.”
The expansion is in addition to recent investments made, Kronospan said, including a new water treatment plant and expansion of manufacturing capabilities at its existing particle board plant, as well as the ongoing construction of a new wood yard.