Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe have announced that Zeus Industrial Products, Inc. will invest $11.25 million to expand its Chattanooga operations and create 54 jobs over the next five years.
Zeus has acquired and will renovate a 140,000-square-foot facility at 3600 Cummings Road in Chattanooga, where it will relocate its Hamilton County operations.
Zeus manufactures precision polymer extrusions and custom tubing used in a wide variety of industries. In 2018, Zeus acquired Chattanooga-based MWC Technologies, a manufacturer of polymer extrusion products used in the medical industry.
Zeus operates 11 facilities in the U.S., Europe and Asia, and employs more than 1,700 worldwide.
Since 2015, TNECD has supported 44 economic development projects in Hamilton County, resulting in more than 6,500 job commitments and nearly $1.6 billion in capital investment.
“Tennessee’s existing businesses are vital to the health of our state’s strong economy and I’m pleased to see Zeus expand its presence in Chattanooga,” Lee said. “Zeus’ significant investment is great news for Hamilton County and I look forward to seeing how it will improve the lives of our residents.”
Rolfe added that this is a positive sign for the business atmosphere in the state.
“We’re committed to making sure Tennessee is a great place for companies to create quality job opportunities,” he said. “This expansion by Zeus underscores the ripe business environment we’ve fostered in Tennessee. I’d like to thank Zeus for its commitment to invest in Chattanooga and create valuable, family wage jobs for our residents.”
The president of Zeus also expressed his happiness over the announcement.
“With the purchase of MWC Technologies, Zeus gained important capabilities that fit nicely with our product strategy. The unique advantages we created helped grow demand for our existing products and expand our portfolio with new solutions,” Zeus President Steve Peterson said. “However, for production to keep pace with this growth, we needed a larger facility. By purchasing the Cummings Road property, Zeus can scale its production as needed to meet the requirements of a growing product portfolio and customer base. We are excited for this latest investment in our Tennessee operation and look forward to expanding our business even more in the years ahead.”