OAK RIDGE, TENN. – November 22, 2016 – Protomet Corporation announced today that it has acquired the 19.47-acre parcel of land adjacent to its existing Oak Ridge facility from the Oak Ridge Industrial Development Board, a parcel formerly owned by the Department of Energy (DoE).
Nine months ago, Protomet Corporation, an Oak Ridge-based engineering, manufacturing and technology company, announced that it will expand its operations with an additional 100,000 square-foot facility and 200 new jobs over the next five years.
While company founder and CEO Jeff Bohanan says this represents a “large step forward” for the expansion project, it is not a guarantee that the company will actually build its new facility on that property. While the company has stated its desire to remain in Oak Ridge, company officials have evaluated numerous potential sites in East Tennessee and South Carolina and have identified an existing facility for sale in Tennessee that would meet the company’s needs.
“Federal, state and local officials and organizations have been great to us,” Bohanan said. “They know what we’re trying to do and they are trying to help us make that happen. Because of our location, that isn’t always as fast or easy as it sounds.”
In 2013, Protomet more than doubled the size of its Oak Ridge operations when the company opened a $10 million plant expansion that included 22,000 square-feet of new space and high-tech automated manufacturing equipment from around the world.
“The new facility will dramatically increase Protomet’s capacity and capabilities for the customers it serves,” Bohanan said. “We have already started purchasing equipment for the new facility and some of it is already in use at our current facility.”
Once construction begins, the company estimates it will take approximately 12 months to complete the new facility. Protomet says it must move into the new plant in 2018, regardless of where the new facility is located.
Since 1997 Protomet Corporation has been a world-class provider of engineering and manufacturing solutions and services. In addition to comprehensive design services, Protomet provides high-precision production manufacturing and finishing for clients in a variety of markets including marine/boating, automotive, homeland security, industrial, energy and power.
Protomet partners with its customers’ resident engineers to assist in designing parts for the manufacturing process that enhance products while reducing component costs (by as much as 75 percent).
In recent years, Protomet also introduced a proprietary line of products marketed under the PTM Edge Watersports brand that makes and markets boating mirrors and wakeboard tower components for boats of all kinds. The PTM Edge product line has won numerous awards including the IBEX Innovation Award for its ski/wake towers and mirrors.
The Protomet family of companies is headquartered in Oak Ridge and was named one of Tennessee’s “Fast 50” (the state’s fastest growing companies). Protomet Corporation has experienced more than a 500-percent increase in sales in the last seven years.
For more information about Protomet, visit www.Protomet.com.
Media: For more information or to arrange interviews, contact Rick Laney at (865) 300-4538 or Rick@RickLaneyMarketing.com.