This technical information has been contributed byRICHMOND, Va.—Virginia has successfully competed against China, Florida, and Illinois for a manufacturing expansion project that will create 93 new jobs for the state. On November 6, Governor Terry McAuliffe announced that Wolverine Advanced Materials will invest $10.625 million to expand its specialty rubber coated materials manufacturing operation in Montgomery County. The company produces high-performance materials used in automotive and industrial noise reduction for brake and sealing applications.
Wolverine Advanced Materials
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Wolverine Advanced Materials Invests $10 Million to Expand Virginia Plant
Factory will become “gateway” for exports to China and India
“I am thrilled to announce Wolverine’s significant investment in Montgomery County today. The company will add manufacturing capacity to reach its key growth markets in China and India, using the Port of Virginia as a gateway for its exports,” said Governor McAuliffe in a release. “Increasing export volumes and creating advanced manufacturing jobs are key components of building a new Virginia economy. This project will benefit not only Montgomery County, but the Port and the Commonwealth as a whole.”
Wolverine Advanced Materials’ Virginia facilities have been based in Montgomery County for 40 years, said Maurice Jones, Virginia Secretary of Commerce and Trade, in the release. “In the face of global competition, the company’s choice to grow its manufacturing operations in the Commonwealth speaks volumes about the benefits of our business environment, workforce, and global access to markets.”
Wolverine Advanced Materials is a prominent developer, manufacturer, and supplier to global friction and OEM manufacturers, such as Daimler, BMW, GM, Chrysler, Ford, and other clients that demand high quality, high-performance materials. The company’s core competency is in performance-critical, specialty elastomer-coated metals that offer damping and sealability solutions in the automotive brake; noise, vibration, and harshness (NVH); and sealing industries. Principally owned by Wynnchurch Capital Partners, Wolverine has global headquarters in Dearborn, Michigan, and employs approximately 600 people worldwide.
“With our rich company history in Virginia, Wolverine is excited about expanding our manufacturing operations in Montgomery County,” said Grant Beard, chairman, CEO, and president of Wolverine, in the release. “This investment will help Wolverine grow its global business while simultaneously benefiting Montgomery County through our expanded workforce.”
The Virginia Economic Development Partnership worked with Montgomery County and the New River Valley Economic Development Alliance to secure the project for Virginia. Governor McAuliffe approved a $250,000 grant from the Governor’s Opportunity Fund to assist Montgomery County with the project. The company will receive benefits from the Port of Virginia Economic and Infrastructure Development Grant Program. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“This is a banner day for the Town of Blacksburg,” said Mayor Ron Rordam in the release. “For many years Wolverine has been a powerhouse manufacturer of automotive goods in our community and a provider of quality jobs. We’re excited about the prospect of 93 new positions that will benefit the workforce in Blacksburg and the greater New River Valley and congratulate Wolverine on this tremendous investment in business expansion.”
Auto parts continue to be a top commodity moving through The Port of Virginia, and the health of the port and auto industry is important to the economic well-being of the nation and the Commonwealth because of jobs, explained John F. Reinhart, CEO and executive director of the Virginia Port Authority, in a statement. “The recent growth in the automotive sector proves that this industry has an excellent business partner in Virginia and this port,” he said. “We are proud to be Wolverine’s gateway to international trade as the company increases exports while creating new jobs and economic investment in Montgomery County.”
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