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12/19/2016 | 1 MINUTE READ

MVP to build $12 million new manufacturing plant in Knox County

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This expansion will create about 70 new jobs.

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Magnum Venus Products (MVP) will expand its operations and build a new $12 million facility that will create approximately 70 jobs in Knox County, Tenn. during the next five years. MVP’s new plant in the Hardin Business Park will consolidate its current Knoxville operations and provide room for future growth.

Currently, MVP operates its headquarters in Knoxville and a 75,000-square-foot manufacturing plant in Kent, Wash. that employs approximately 100 people. The Kent manufacturing operation will continue to operate after the expansion in Knoxville.

MVP purchased 7.25 acres in the Hardin Business Park off Hardin Valley Road. Site preparations are expected to begin with 30 days and construction will begin shortly thereafter. MVP officials say they will occupy the new facility in the second half of 2017.

Construction of the new $12 million facility will take place in two separate phases. Phase I will be completed next year and is approximately 40,000 square feet. Phase II will provide an additional 40,000 square feet to the facility.

"While our company has operated a number of offices and manufacturing locations throughout the United States, our headquarters has been in Knoxville," says Peter Hedger, president and CEO of Magnum Venus Products. "This is a great location for us with all of the exciting businesses that have moved here in recent years, especially the large number of composite-related businesses. We are excited to expand our operations in East Tennessee - this is our home."

MVP is a manufacturer of composite application equipment. The company's products include pumping systems, spray guns, filament winding systems and more.