Protomet Corp. — a provider of engineering and manufacturing solutions and services for a variety of markets, including the marine industry — is quickly ramping up a $30 million expansion project in Loudon County, Tenn.
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. Protomet and the PTM Edge product line have won numerous international industry awards as well as multiple IBEX Innovation Awards for its ski/wake towers and mirrors.
Protomet officials say the company’s success requires additional manufacturing space to add new production capabilities and increase the company’s output. Protomet, which was founded in Oak Ridge 20 years ago, has experienced growth in excess of 25 percent annually in recent years. The company currently employs nearly 150 people.
Protomet, which has offices in Oak Ridge, Tenn., announced last summer that the nearly 250,000-square foot expansion in Loudon County would be at the former Maremont production facility on Maremont Parkway. The expansion will eventually create 200 new jobs for the region.
To date, the company has hired 40 new employees as part of the expansion and plans to fill 50 more new positions in the next 12 months. The company also has invested more than $10 million in new equipment.
“We are excited to see the new Protomet operation coming to life in Loudon County,” said Jeff Bohanan, founder and CEO of Protomet. “This expansion positions us for an exciting future and we look forward to being actively involved in this community.”
Protomet worked with the Tennessee Department of Economic Development (TDEC) as well as both the Oak Ridge Industrial Development Board and the Loudon County Economic Development Agency to make the Loudon County expansion a reality.
“Protomet has been one of Tennessee’s leading growth companies during the past several years and I’m pleased to see it expand further with this operation in Loudon,” Gov. Bill Haslam said. “East Tennessee’s advanced manufacturing and engineering base continues to grow considerably and the creation of 200 new jobs by Protomet brings us closer to making Tennessee the No. 1 location in the Southeast for high-quality jobs.”
Just five years ago, 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.