Economy and trade minister Étienne Schneider officially welcomed the opening of a giant American firm’s new branch, and the more than three dozen jobs it will bring, in the Grand Duchy on Monday.

Koch Business Solutions-Europe, which will be based in Cloche d’Or, has already started recruiting personnel. The firm is “expecting to hire around 40 during the two first years, with the possibility to double the number of jobs, depending on the growth of all the Koch Group’s companies”, Brian Padley, director of KBS-Europe, said in a press statement.

Koch Industries, based in Wichita, Kansas, is one of the largest privately held companies in the US, according to Luxembourg’s economy ministry. It operates in 60 countries and employs around 60,000 people worldwide.

The conglomerate’s business units cover a large range of activities, including refining, chemicals, biofuels, polymers and fibres, pollution control equipment and commodities brokerage.

Wholly owned KBS provides administrative and operational functions to Koch Group companies worldwide, and its Luxembourg-based KBS-Europe unit will support the group’s European holdings with internal finance, accounting and HR services.

The group already employs 250 people in the Grand Duchy at emissions control firm John Zink in Dudelange, paper products firm Georgia-Pacific, and other units.

Schneider (photo) told the press that: “the group’s decision to expand its services and to reinforce its presence in Luxembourg illustrates the competitive business environment for international companies in the Grand Duchy. This is due to efficient infrastructure in the country and highly qualified labour.”