A Texas investing group is set to reopen a timber mill in Magnolia in a move that is expected to create 40 to 60 jobs.
According to the Arkansas Democrat-Gazette, the Arkansas Economic Development Commission approved a $750,000 bond guarantee for Texas CLT LLC to reopen the mill.
Texas CLT LLC, an investor group based in Nacogdoches, Texas, is planning a $3 million investment in the mill, with further investment expected.The mill is set to begin hiring employees in November and start operating in January.
The Magnolia mill will focus on producing cross laminated timber, a type of timber that is made by stacking boards in alternating directors and bonding them with adhesive. The boards are then pressed together to form a solid wooden panel. Typically, cross-laminated timber panels are composed of odd numbers of layers from three to seven layers.
Arkansas Laminating formerly owned the mill, which closed in September 2015, according to the Magnolia Reporter. Arkansas Laminating employed 50 individuals at the time of its closing.
RELATED: Preferred Family Healthcare Closing Arkansas Operations
