Koster American breaks ground on expansion in Virginia Beach
- March 11, 2014
Construction officially got underway Tuesday on a project by Koster American Corp. in Virginia Beach that will add 14,000 square feet to the company’s headquarters and manufacturing operations.
The company, which provides moisture and oil remediation in concrete flooring systems, is remodeling and expanding its facility at 2585 Aviator Drive.
Koster purchased its original 14,000-square-foot facility in Oceana South Industrial Park in 2004. In 2013, the company bought an existing 8,000-square-foot building to serve as the first phase of its expansion.
Today’s groundbreaking ceremony marks Koster’s next expansion phase. The company said it has future plans to construct two additional 11,000-square-foot facilities. In all, Koster plans to have more than 50,000 square feet of space in Virginia Beach for what is its North American headquarters.
The company will invest more than $4.6 million in improvements to the site. Koster also plans to hire six additional full-time employees with average annual salaries of $70,000.
“Koster has been a great corporate partner over the past 20 years,” Warren D. Harris, director of Virginia Beach Economic Development, said in a statement. “We are pleased the company has found success to launch distribution to North America through this Virginia Beach location.”
Koster was founded in 1992 as a developer and manufacturer of waterproofing materials. Headquartered in Virginia Beach since 2004, it’s part of the international product manufacturing group Kosher Bauchemie AG, based in Aurich, Germany. The Virginia Beach location is the central location for distribution of building products to North America.
Koster American is one of several German-based companies to operate its U.S. or North American headquarters in Virginia Beach. It has worked on several notable projects, from the Olympic Hall in Beijing to the MGM Grand hotel in Las Vegas.