Source: Knoxville News Sentinel | March 13, 2015
Canada-based CVMR Corp. will invest $313 million to establish its global headquarters in the Roane County part of Oak Ridge, resulting in 620 new jobs, state and company officials announced Friday.
CVMR, a privately-owned, multidisciplinary firm that specializes in products manufactured from metal powders, is moving all of its current operations from Toronto, Canada to Horizon Center, which has more than 400 acres suitable for development.
A CVMR Centre of Excellence for Innovation in Powder Metallurgy and production facilities for a wide spectrum of advanced metal products will be created at the manufacturing facility located at 103 Palladium Way in the Roane County portion of Oak Ridge.
Its home to the Department of Energy’s Carbon Fiber Technology Facility, which offers carbon fiber line for demonstrating advanced technology scalability and producing prototypical carbon fibers. TVA has also certified a 28-acre site within the park as suitable for a primary data center.
The announcement, made on site with Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd along with CVMR officials, further solidifies Oak Ridge as “a place of innovation and advanced composite discoveries for the world,” Oak Ridge City Mayor Warren Gooch said in a news release. “As we diversify our economy for additive manufacturing, CVMR is at the center of the world of 3D printing and advanced metallurgy. Oak Ridge will be by their side as a partner in establishing a hub for new technologies and advanced composite businesses for Oak Ridge and the region.”
CVMR USA, a new company formed to refine and manufacture high-value metals and metal products directly from raw ore, scrap metals, concentrates and mattes, plans to begin operating by the end of May 2015.
It will transfer to Oak Ridge the production of advanced metal materials for a variety of industries, including aerospace, energy, automotive and medical devices. CVMR plans to quadruple its production capacity at the site over the next three years and will begin construction of additional facility in June 2015.
The Oak Ridge facility will house CVMR USA’s corporate headquarters, research and development, production of nano materials and metallurgical coating services, customer support, product development and planning for U.S. production facilities.
“We evaluated four States before we decided to move our Head Office to Oak Ridge, Tennessee. Tennessee has the infrastructure that our operations require. It has a great University that can supply the scientists and engineers we need. The proximity of Oak Ridge National Laboratories and their willingness to cooperate on a number of projects with us, the availability of first class transportation facilities and ability to use the river, all were contributing factors to our final decision,” Kamran M. Khozan, Chairman and CEO, CVMR (USA) Inc., said in a news release.