CVMR President Michael Hargett, left, and Kamran Khozan, chairman and chief executive officer, joined local, state, and federal officials on Friday, March 13, 2015, to announce they’re moving company headquarters from Toronto to Oak Ridge, investing $313 million and adding 620 jobs.
Note: This story was last updated at 7:05 p.m.
Seeking to clarify its plans, CVMR on Friday said it still hopes to build a metal refining facility in Oak Ridge to produce metal powders and “nano materials.” That investment, to be completed in three phases, could cost more than $300 million in the first phase and eventually employ 1,200 to 1,500 engineers and technicians, the company said Friday.
But they will not establish a Center of Excellence focused on research and development of the application of vapor metallurgy technology to an expanding group of elements, CVMR said in a Friday letter to Tennessee Governor Bill Haslam.
The company sought to publicly clarify its position after news stories this week suggested that the CVMR deal was dead. Some officials and developers had pushed back after those stories appeared in several Knoxville media outlets, saying they remained “cautiously optimistic” that the company could still come to Oak Ridge. [Read more…]
