ZANESVILLE, Ohio – A purchase agreement was executed during the Port Authority meeting Wednesday morning.
The agreement was made between the Zanesville-Muskingum County Port Authority and AMG Vanadium, a company that has a long standing reputation in the region. AMG Vanadium is a global leader in management of spent refinery catalyst from the oil industry. The purchase agreement was signed for a new 154 acre location at the Eastpointe Business Park.
“You have projects that come to you and they tell you what their needs are. And then you go into your community and you look for sites that would fit their needs. So this was one of five different sites in the community that we thought would have been a potential fit for this company. We’re just very excited that one of the five has been chosen to move forward with this purchase agreement today,” said Port Authority Executive Director, Matt Abbott.
AMG Vanadium is aiming to create jobs and growth within the community with the new location. An existing facility is operating in Cambridge, but this new state-of-the-art facility will allow their capacity to double.
“This new plant is going to have new technology. It’s going to be a better facility than the Cambridge facility. New technology which is really going to help us expand what we’re doing globally. Our refine partners; the Shells, the ExxonMobils, the Marathons, and those kinds of people really count on this to be able to take care of this material for them and it’s a big move,” said President of AMG Vanadium, Hoy E. Frakes Jr.
Abbott said the Port Authority is excited to build a strong partnership with AMG Vanadium and continue what they have accomplished for the region.