Oak Ridge Today

CVMR still hopes to build $300M metal refinery, but R&D center on hold

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Michael Hargett and Kamran Khoza of CVMR USA

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…]

Bradshaw, Whitson to be honored at Oak Ridge Chamber Luncheon on Thursday

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David Bradshaw

David Bradshaw

Stephen Whitson

Stephen Whitson

The Oak Ridge Chamber of Commerce will honor two area businessmen—David Bradshaw and Stephen Whitson—at its annual program of work kickoff luncheon to be held on Thursday, March 19, at the Riverside Grille.

Bradshaw and Whitson will receive the Chamber’s most prestigious awards at the event, the One Voice—One Vision Luncheon, a press release said.

Bradshaw, president of the Oak Ridge branch of CapitalMark Bank and Trust, will receive the Eugene L. Joyce Lifetime Achievement Award. The award is given to a nominee who has truly distinguished himself or herself and embodies the essential values of volunteerism, community service, and dedication to the economic vitality of our community. It is the Oak Ridge Chamber of Commerce’s preeminent award given to honor the memory of the late Eugene L. Joyce. [Read more…]

Hargett, president of CVMR-USA, to speak at Oak Ridge Chamber Luncheon

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Michael Hargett and Kamran Khoza of CVMR USA

CVMR President Michael Hargett, left, and Kamran Khozan, chairman and chief executive officer, joined local, state, and federal officials on Friday to announce they’re moving company headquarters from Toronto to Oak Ridge, investing $313 million and adding 620 jobs.

 

Michael Hargett, president of CVMR-USA, which announced Friday that it’s moving from Toronto to Oak Ridge, will be the keynote speaker at an Oak Ridge Chamber of Commerce luncheon on Thursday, March 19.

The One Voice—One Vision Luncheon will be at noon Thursday, March 19, at the Riverside Grille in Oak Ridge.

CVMR announced at a special event on Friday that the company will be locating its international headquarters in Oak Ridge. The company plans to invest $313 million and will bring 620 new jobs to the city. [Read more…]

Metal powder manufacturing company investing $313 million in Oak Ridge, adding 620 jobs

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Michael Hargett and Kamran Khoza of CVMR USA

CVMR President Michael Hargett, left, and Kamran Khozan, chairman and chief executive officer, joined local, state, and federal officials on Friday 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 12 a.m.

A company that manufactures high-purity metal powders and super alloys is moving its operations to Oak Ridge from Toronto, Canada, and investing $313 million here and creating 620 jobs, officials said Friday.

CVMR, which has operations in 18 countries, will use the former Theragenics building at Horizon Center in west Oak Ridge for its headquarters and research and development. The company closed on that building, which is on 21 acres, on Friday, but executives declined to disclose the sale price.

The first employee was hired Thursday, said Kamran Khozan, chairman and chief executive officer of CVMR (USA) Incorporated.

The company could expand that 65,000-square-foot building; infrastructure that is already in place allows it to be doubled. The company could put 218 people to work right away in its new headquarters and add 402 high-paying manufacturing jobs later, a state official said.

“I can promise you that this is the start of a wave,” said Randy Boyd, the new commissioner of Tennessee Economic and Community Development. [Read more…]