Magnum Venus Products (MVP) Expanding in East Tennessee

KNOXVILLE, Tenn., April 11, 2023 /PRNewswire/ -- Magnum Venus Products (MVP) , a global manufacturer of fluid movement and production solutions for industrial applications, is expanding its footprint and capabilities with the purchase of a facility and land in East Tennessee.

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Provider:

PR Newswire

Retrieved on:

Tuesday, April 11, 2023

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Tags:

Venus, Airbrush, Adhesive, MVP, Growth, Mississippi River, Transport

Geotags:

TENNESSEE, KENT, TN, UNITED STATES, WASHINGTON

Summary

Key Points:

KNOXVILLE, Tenn., April 11, 2023 /PRNewswire/ -- Magnum Venus Products (MVP) , a global manufacturer of fluid movement and production solutions for industrial applications, is expanding its footprint and capabilities with the purchase of a facility and land in East Tennessee.
MVP's expected $20 million investment over five years includes 17 acres of land and a 125,000-square foot facility.
The renovated facility is estimated to generate 100 jobs over the next five years in East Tennessee.
"While we operate a number of facilities throughout the United States, East Tennessee has been our home for over a decade," said Tobi Ferguson, President and CEO of MVP.

Magnum Venus Products (MVP) Expanding in East Tennessee

KNOXVILLE, Tenn., April 11, 2023 /PRNewswire/ -- Magnum Venus Products (MVP), a global manufacturer of fluid movement and production solutions for industrial applications, is expanding its footprint and capabilities with the purchase of a facility and land in East Tennessee. The expansion will enable MVP to increase its manufacturing velocity and meet customer demand.

MVP's expected $20 million investment over five years includes 17 acres of land and a 125,000-square foot facility.

The expected $20 million investment over five years includes 17 acres of land and a 125,000-square foot facility. The new location will combine MVP's corporate office and its Knoxville assembly and service center into one site and create a foundation for continued growth. The renovated facility is estimated to generate 100 jobs over the next five years in East Tennessee.

"While we operate a number of facilities throughout the United States, East Tennessee has been our home for over a decade," said Tobi Ferguson, President and CEO of MVP. "The composites and advanced manufacturing resources available here present unique business opportunities to catalyze continued growth for MVP. And with 40% of our customers located East of the Mississippi River, Knoxville is geographically ideal."

Currently, MVP operates a headquarters in Knoxville, TN and a 75,000-square foot manufacturing and technology center in Kent, Washington, which employs approximately 100 people. While the Kent facility will continue to operate, the additional capacity in East Tennessee will dramatically increase production rates, driving down lead times and enabling better delivered service performance to customers.

"At its core, MVP is a family-owned business with a proud history of innovation," said Ferguson. "MVP was built by a caring, people-first team on values that continue to guide it today. Our growth and success can be attributed to an inspired team with a passion for serving others."

MVP's mixing and metering composite equipment is renowned for its precision and accuracy. The company's product offering includes pumping systems, spray guns, filament winding systems, and other full-integrated production solutions. Along with its composites equipment, MVP also manufacturers equipment for polyureas, adhesives, and epoxies. For over 80 years, MVP has been the leading equipment provider for composites industries including marine, infrastructure, pool and bath, oil and gas, transportation, and wind energy. For more information, visit mvpind.com.

Media Contact:
Hannah Jay
[email protected]

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SOURCE Magnum Venus Products