CVMR Corporation no longer moving global headquarters to Oak Ridge, still plans to build plant

Governor Bill Haslam welcomes CVMR to Tennessee and Oak Ridge (PHOTO: UT President Joe DiPietro)

OAK RIDGE (WATE) – Canada-based mining and metal refining and processing CVMR is no longer moving its global headquarters to Oak Ridge, but says it is still interested in building a plant there.

Governor Bill Haslam, University of Tennessee President Joe DiPietro and Roane County Mayor Ron Woody all attended the announcement in March that CVMR Corporation, a company that engages in mining and metal refining and processing, would move their global headquarters to Oak Ridge from Toronto, Canada.

Previous story: CVMR Corporation moves global headquarters to Oak Ridge, creates 620 new jobs

Now Mayor Woody said CVMR Corporation is “no longer relocating as was previously announced,” but they are still in conversation with about investments in the community. The University of Tennessee is already a key collaborator with CVMR Corporation according to University of Tennessee President Joe DiPietro.

CVMR sent a letter to Gov. Bill Haslam Friday clarifying its position. The company says it initially planned to establish a “Center of Excellence” in Oak Ridge that would focus on research and development in conjunction with ORNL and UT. The company realized the proposal was based on a misunderstanding about the amount and type of support the state was going to supply, and realized it was not feasible to build such a center in Oak Ridge.

Web Extra: Read the letter [PDF]

However, CVMR still wants to build, in three phases, a metal refining facility in Oak Ridge for the production of metal powders and nano materials. The $300 million project would employ 1,200 to 1,500 qualified engineers and technicians.

The original plan to move to the long abandoned Theragenics building in Horizon Central Industrial Park was expected to create 620 new jobs and $313 million in capital investments from the move. A large portion of the plant was expected to be dedicated to the production of metal powders used in 3D Printing.

The 66,736 square feet building is owned by HN Properties, LLC. Mayor Woody said it was his understanding that CVMR Corporation never purchased the Theragenics building and added deals from the state of Tennessee also never materialized. However, Mayor Woody said the county is still expecting some type of investment from CVMR, as there have been recent discussions about other projects in the area.

Neither the state nor Roane County have spent any money on the relocation.

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