Oxford, AL, April 14--An Austrian-based wood products company could hire 700 workers at its first U.S. plant planned for the city of Oxford under an agreement announced Wednesday by Alabama Gov. Bob Riley and local officials.
Riley said the company, Kronospan Gmbh, has signed a "working agreement" to build a plant that exceeds $500 million in capital investment. No construction timetable was released.
Riley had recruited Kronospan during his July 2004 industry-hunting trip to Europe.
"We look forward to a long and prosperous relationship with this company for many years to come," Riley said in a statement. He described the firm as the "world's leading manufacturer of wood laminated flooring products."
The plant would be built near Interstate 20 in this city of about 20,000 residents, east of Birmingham.
"This represents the largest investment in our area in years," Oxford Mayor Leon Smith said.
