CVMR announces move to USA and creation of Centre of Excellence for Innovation in Powder Metallurgy
March 18, 2015
CVMR Corporation, a manufacturer of high-purity metal powders and superalloys, is moving its operations from Toronto, Canada, to Oak Ridge, Tennessee, USA. The company also announced the creation of the CVMR Centre of Excellence for Innovation in Powder Metallurgy and production facilities. The move will see an investment of $313 million and is expected to create some 620 jobs.
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.
CVMR, which has operations in 18 countries, will use the former Theragenics building at Horizon Center in west Oak Ridge for its headquarters, research and development. It was stated that the company could expand this 65,000 ft2 building as infrastructure already in place allows it to be doubled.
Kamran M Khozan, CVMR Chairman and CEO, stated that the Oak Ridge facility will be at the centre of the entire company. “We are in 18 difference countries,” Khozan said. “The head office will be right here in this building. I promise to make Oak Ridge the centre for innovation and manufacturing.”
The company 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. “We expect to be much bigger and invest much more in the next five years,” Khozan added.
The Oak Ridge facility will house CVMR USA’s corporate headquarters, research and development, production of nanomaterials and metallurgical coating services, customer support, product development and planning for US production facilities, according to the release.
Ores concentrated overseas in locations such as the Philippines, Indonesia, and African countries will be shipped or sent by barge to Oak Ridge, where they will be processed. CVMR uses the ore concentrates to create pure metal powders. The company works with 52 metal powders and metal concentrates such as nickel, iron, and cobalt, and it produces about 34 unique products that can be used in batteries, 3D manufacturing, medical instruments, defence equipment, and the aerospace industry.