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…]
