In December 2009, Oxane Materials announced it would locate a plant in Van Buren, Arkansas. The $32 million facilty, which makes an innovative new product for the oil and gas drilling industry, is expected to employ 300 workers in the region ultimately.
In this report from our content partner, The City Wire, we learn that the plant is ahead of schedule:
Oxane Materials is scheduled to open by mid-summer. On Monday, April 12, construction crews were working at the 11.68 acre site, revamping the former Therma-Tru facility. The Houston-based company expects to invest $15 million to get its first plant running and gradually increase its investment to the $32 million threshold.
The facility will use nanotechnology to manufacture proppants, which are suspended in the frac fluid used to drill gas and oil wells. When forced into the underground fractures, the proppants hold the breaks open after the frac fluid is removed.
“The technology was developed in a laboratory at Rice University and is transitioning into the manufacturing market,” said Van Buren Mayor Bob Freeman. “This is a start-up, first production of this product. There’s expected to be a huge demand for this product.”
You can read more on developments at this link.
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