Oxane will launch the Van Buren manufacturing project with a $15 million capital investment and will employ approximately 50 employees by the summer of 2010, according to the Arkansas Economic Development Commission.
Plans for expansion at Oxane's Van Buren facility are anticipated through 2014, with expected total capital investment of $32 million and additional employment of up to 300 total employees, according to the commission.
"Over the course of the past several weeks, the Fort Smith Regional Chamber of Commerce, the city of Van Buren and the Van Buren Chamber of Commerce have worked closely with Oxane Materials and the Arkansas Economic Development Commission (AEDC)," said Jackie Krutsch, executive director of the Van Buren Chamber of Commerce. "The Van Buren Chamber of Commerce feels that it is critically important to work with our regional partners and the AEDC in order to see new job creation in the area."
Oxane's products are designed to increase oil and gas recoveries, particularly when working with unconventional assets such as shale, tight gas, tight oil and coal bed methane, according to the company.