Last week, Magnum Venus Products (MVP), a premier manufacturer of composite application equipment, celebrated its 50th anniversary and broke ground on a new $12 million, 80,000-square foot manufacturing facility near the company headquarters in Knox County, Tenn.

“We are excited to announce the site of our future home in East Tennessee,” MVP President Pete Hedger, Sr. said. “This facility will provide for increased production on the East Coast and allow us to better serve our customers and partners in the composites industry. Additionally, this facility will be home to our headquarters operations, including corporate functions as well as state-of-the-art research and demonstration areas.”

MVP says that with growing market demand for its products in many industries, as well as the large number of composite-related businesses moving into the area, the new plant further solidifies the company’s ties to the Knoxville area.

“One of the reasons this 50 year anniversary is so important is that breaking ground on the new facility not only cements a true milestone for our company, but also shows that we are committed to the Knoxville community and to our employees,” said Ron Blackburn, MVP Marketing Coordinator. “We live here, we love it here, and that’s why we are putting down roots to expand further as the business grows.”

MVP expects to hire 70 additional employees to staff the new facility during the second half of 2017. In order to educate prospective new hires, some of the partner organizations set up tabletop booths at the company’s groundbreaking event, with information about the opportunities East Tennessee has to offer.

For more information, watch the video below: