TN: Telos Global to Invest $63M, Locate Mfg Facility in Caryville, Hire 63
29 Aug, 2016
Tennessee Department of Economic and Community Development Commissioner Randy Boyd along with Telos Global, LLC officials announced the company will locate a new facility in Caryville. The automotive supplier will invest $32 million and create 63 new jobs in Campbell County.
“I want to thank Telos Global for choosing to locate its new facility in Campbell County,” Boyd said. “Tennessee has over 118,000 automotive workers in 924 locations throughout the state, and it speaks volumes to our strong automotive sector when a company like Telos Global selects Tennessee. Thank you, Telos, for creating these jobs for Caryville and welcome to Team Tennessee.”
Telos Global will locate its new manufacturing facility in a 190,000 square-foot building in Caryville. The company plans on completing extensive renovations on the building to accommodate the company’s equipment and needs. The renovations include installation of a crane system, lighting upgrades and electrical modifications. At the new facility, Telos Global will focus on five in-house turnkey services: technical, low volume production, tooling services, equipment sales services, turnkey services center and training.
“We are pleased to bring Telos Global to Tennessee, a state that understands the automotive engineering and manufacturing industry as well as one that provides companies like ours with an environment that facilitates success,” Telos Global CEO Rick Teague said. “We look forward to calling the city of Caryville the home for our global business model and are equally excited about new opportunities in the foreseeable future.”
Established in March 2016, Telos Global is a joint venture between Teague and Eisenmann Corporation USA and consists of a group of specialists with a broadened production and process expertise in the area of press-hardened steel. Based on profound knowledge in all areas from part design up to the engineering of the dies, Telos Global offers outstanding consulting services for every stage of the realization. From part design and specification of the process up to the implementation and optimization of the equipment. Thanks to its own tool and die shop as well as a complete production scale test line, the company can provide complete pilot production runs including training for its customers. The company’s main customers include automotive OEMs, Tier 1 and Tier 2 automotive suppliers.
“Telos Global is a tremendous win for Campbell County and our rural industrial stance,” Campbell County Mayor E.L. Morton said. “At the same time, Campbell County leaders are determined to make it a clear and profitable win for Telos far into the future. County commissioners recently made significant investments in power grid enhancements that accelerate Telos into production on a very aggressive schedule.
“We, along with TVA, our state ECD Team and LaFollette Utilities Board, will continue to power up advanced manufacturing across our entire county. Working with business leaders, state and local elected officials, TVA, unemployed workers, power and infrastructure technicians, investors, economic development, workforce and environmental professionals and seeing their resolve, today it feels like we are on a winning track,” Morton added.
“TVA and LaFollette Utilities Board congratulate Telos Global on its announcement to locate in Campbell County, Tennessee,” TVA Senior Vice President of Economic Development John Bradley said. “We are proud to partner with Campbell County, the city of Caryville and Tennessee Department of Economic and Community Development to help further TVA’s mission of service by fostering new job creation in the Valley.”
Caryville and Campbell County are represented Sen. Ken Yager (R – Kingston) and Rep. Dennis Powers (R – Jacksboro) in the Tennessee General Assembly.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: www.tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: www.facebook.com/tnecd.