During a time when many businesses are dealing with financial issues, a Cambridge company is profiting and expanding its roots.
"To be able to put these kinds of roots down in a corporation this strong in our geographical area is huge," says Cambridge Mayor, Tom Orr.
It’s taken about 18 months, but Metallurg Vanadium has completed the construction of a new $6 million raw material storage building. The company deals with vanadium. It’s the 23rd element on the periodic table. 90% of it is used in the steel industry as a strengthening agent, and it was even used to build parts of this facility.
"There’s not a lot of industrial growth, as we all know, going on right now in any part of our country. We’re fortunate and very appreciative for what they are doing, what they have done with this facility," says Guernsey County Commissioner Tom Laughman.
Company President, Hoy Frakes says he prides himself that this 43,000 square foot building is environmentally friendly.
"We don’t allow any of the material to come in contact with the soils. Our manufacturing process is very unique. We use a pyro-metallurgical operation, which means we don’t have waste waters," says Frakes.
Frakes says he’s excited for what these new facility can essentially do for the company, help it handle spent oil refinery catalysts safely.
"It increases our capacity to do that, which makes us a much more competitive company, " says Frakes.
Frakes says that’s important, especially when the company is competing on a global market against South Africa, China, and Russia.
It hopes to start fully using the new facility within the next week.
Metallurg Vanadium is also undergoing another transformation at the beginning of January. It’s changing its name to AMG Vanadium, which is the name of its parent company.