VIRGINIA BEACH -- KOSTER American Corporation breaks ground Tuesday on a major expansion in Virginia Beach.
Mayor Will Sessoms joins Basil Mewes, president of KOSTER American, at 2 p.m. to kick off construction on the expansion of the company's Virginia Beach headquarters and manufacturing operations.
The company, which specializing in waterproofing products and systems, is located in Oceana South Industrial Park and will remodel and expand its facility.
Today's groundbreaking will begin KOSTER's next expansion phase with the construction of a 14,000-square-foot production facility. The company has future plans to construct two additional 11,000-square-foot facilities. In all, KOSTER will have more than 50,000 square feet of space in Virginia Beach for its North American headquarters and manufacturing operations.
The company will invest more than $4.6 million in improvements to the site. KOSTER will also hire six additional full-time personnel with average annual salaries of $70,000.
'KOSTER has been a great corporate partner over the past 20 years,' said Warren D. Harris, director of Virginia Beach Economic Development. 'We are pleased the company has found success to launch distribution to North America through this Virginia Beach location. We anticipate its growth and success will only continue.'
KOSTER American is one of several German-based companies to operate their U.S. or North American headquarters in Virginia Beach. KOSTER has worked on many notable projects, from the Olympic Hall in Beijing to the MGM Grand hotel in Las Vegas.