Magnum Venus Products (MVP), one of the first members to join IACMI-The Composites Institute at its inception, celebrated its expansion with a groundbreaking ceremony for its new facility in in Knoxville, Tennessee on May 22nd. MVP is a leading manufacturer of composite application equipment and producer of high-tech industrial pumps.
The new 80,000 square-foot manufacturing facility will be located just minutes from IACMI headquarters and Oak Ridge National Laboratory’s (ORNL) Manufacturing Demonstration Facility, reinforcing MVP’s ties to East Tennessee and the growing composites ecosystem in the region. MVP announced plans for the new $12 million production facility in December of 2016, as well as the expected addition of 70 jobs by the second half of 2017.
This new facility will add to the economy as well as supporting local society. That is why every precaution will be taken to ensure that as this facility is being built, security is of the utmost importance throughout the site. Officials have discussed how to navigate this with a monitored alarm syst, CCTV, industrial fencing, etc. so this manufacturing plant is built in enough time to get up and running for the new workers.
The groundbreaking event, doubling as a commemoration of the company’s 50th anniversary, was held on the 7.5-acre property where the facility will be built in the Hardin Business park. Over 100 attended including elected officials, representatives from ORNL and IACMI, and many other local partners. Knox County Mayor, Tim Burchett, keynoted the event thanking MVP for its loyalty to the region.
“One of the reasons this 50 year anniversary is so important is that breaking ground on the new facility not only cements a true milestone for our company but also shows that we are committed to the Knoxville community and to our employees,” said Blackburn. “We live here, we love it here, and that’s why we are putting down roots to expand further as the business grows.”
Read more in the MVP Insider blog and WBIR.