Swiss Krono

Date of closing September 2018
Total Costs $288 million
Total NMTCS $45.25 million
Swiss Krono (Barnwell,  SC) | View Map

Swiss Krono Group is a leading manufacturer of engineered wood flooring products. It’s US subsidiary, Swiss Krono, LLC manufactures laminate wood flooring in Barnwell, SC. Currently, Swiss Krono purchases 100% of their high density and medium density fiberboard for use in the flooring lines from distant third parties. Their dependency on a small number of suppliers for the primary raw material in their products generates significant pricing risk, drives higher inventory levels, puts them at a competitive disadvantage and adds $7 million in annual transportation costs. This project seeks to expand their Barnwell location, installing a new manufacturing line that will allow them to produce high and medium density fiberboards on-site, thus eliminating the costs and risks of depending on their suppliers as well as eliminating thousands of truck trips annually and the related emissions. Barnwell and the surrounding counties have been struggling with persistent poverty (21.8%) and high unemployment (8.8%) from the loss of textile and tobacco jobs for 30 years. .  (NNMF NMTCs: $17 million)