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CVMR Corporation Invests $313 Million To Establish Global Headquarters In Oak Ridge, Tennessee

03/13/2015
CVMR Corporation will invest $313 million to establish its Global Headquarters, Centre of Excellence for Innovation in Powder Metallurgy and production facility in Oak Ridge, Tennessee.

CVMR is moving all of its current operations from Toronto, Canada to a Tennessee manufacturing facility in Roane County at 103 Palladium Way in Oak Ridge. The company will create the Center of Excellence and production facilities to develop a wide spectrum of advanced metal products, resulting in 620 new jobs for Roane County.

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 US production facilities.

The CVMR Centre of Excellence for Innovation in Powder Metallurgy will collaborate with academic, industrial, government and businesses entities interested in the development of advanced materials and innovative technologies. The Centre will focus on production of new metallurgical products that can benefit the metal industry.

“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/CEO, CVMR (USA) Inc., said.

“But above all, the efficiency with which the State, county and city officials dealt with us and made us feel welcomed, made our final decision quite easy. It was an honour and a privilege for me to meet with Governor Bill Haslam. His style of leadership and efficiency of his government was a major positive influence in our final decision,” he added.

“Oak Ridge is a community receptive to new technologies for manufacturing, innovative science, and industrial production,” Michael C. Hargett, President, CVMR (USA), said. “A combination of superior local resources, an ability to leverage cutting-edge knowledge, and emerging demand for high-performance products makes East Tennessee the place for the CVMR headquarters, manufacturing and production. This environment supports investment and further development of CVMR technologies.”

CVMR USA is a new company formed to use the technologies and metallurgical expertise of CVMR to address market demands for products manufactured from metal powders in the US. CVMR USA will refine and manufacture high-value metals and metal products directly from raw ore, scrap metals, concentrates and mattes, Governor Bill Haslam’s Office said.

CVMR plans to begin operating by the end of May 2015 and 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. CVMR will immediately begin hiring people with experience as materials specialists, chemical technicians, product development, and those with advanced degrees in these particular areas.

“Today is exciting not just for Oak Ridge and Roane County but for all of Tennessee, and I want to thank CVMR for its significant investment in our state, making us the home of its corporate headquarters, research and development and manufacturing,” Governor Bill Haslam said. “This announcement sends a clear signal around the world about our skilled workforce, Tennessee’s commitment to innovation and its ability to compete in the global marketplace.”

“By leveraging unique resources like Oak Ridge National Laboratory, Tennessee is in an extraordinary position to support long-term growth of advanced manufacturers like CVMR,” Community Development Commissioner Randy Boyd said. “The Centre of Excellence for Innovation in Powder Metallurgy sets the stage for future innovation and makes a real statement about the strength of Tennessee’s workforce. Through workforce initiatives, like Drive to 55, we are developing and maintaining a pipeline of students who will be ready to work at some of the most sophisticated manufacturing facilities in the world. I appreciate CVMR’s commitment to Tennessee and the 620 new jobs they are creating in our communities.”

"Tennessee Valley Authority and the Oak Ridge Electric Department congratulate CVMR Corporation on its announcement to locate and create hundreds of new jobs in Oak Ridge,” TVA Senior Vice President of Economic Development John Bradley said. “We are pleased to partner with the state of Tennessee, the Oak Ridge National Laboratory, the City of Oak Ridge, many Oak Ridge community leaders, and Roane County to facilitate CVMR’s new location decision.”

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