PTM Edge parent company, Protomet Corporation, announces expansion
March 28, 2013
Filed under News
OAK RIDGE, Tenn. – March 28, 2013 – A successful manufacturing, technology and engineering company based in Oak Ridge, Tenn. – Protomet Corporation (parent company to PTM Edge) – is expanding, and it’s a good sign for many East Tennessee companies and workers.
Protomet provides high precision production manufacturing for clients in a variety of markets including automotive, homeland security, medical and marine. Protomet partners with company resident engineers to (re)design parts for the manufacturing process that target the reduction of component cost by 10 to 75 percent. Because of the markets it serves, some particularly hard hit by economic conditions over the past five years, Protomet’s growth is an indication that some of those markets are making a turnaround.
“Five years ago, the marine and boating markets took a real hit,” said Jeff Bohanan, founder and president of Protomet. “Some boat manufacturers saw an 80 to 90 percent drop in sales. A large number of people lost their jobs after virtually every boat manufacturer cut back. That downturn was particularly tough on East Tennessee.
“We also work closely with the automotive industry which has struggled in recent years. The increased demand and growth we are experiencing at Protomet is a good sign for businesses in markets that have made it through the recession – things are picking up.”
This week, Protomet announced it is more than doubling the size of its facilities, investing $6 million dollars in the local economy, buying new equipment and adding at least 30 new jobs at its Oak Ridge headquarters. Protomet plans to move into the expanded facility before year-end.
Bohanan said, “East Tennessee has a long history of being an innovation center, and Protomet has a culture of innovation and LEAN manufacturing. We design innovation directly into our products and processes – and even package products in a way that better serves our customer’s needs. This has served to build strong strategic relationships.
“We have a strong relationship with East Tennessee, too. We’re committed to this community where our workers live and play. Our management team are long-time residents and we are excited to be adding to the local workforce, hiring and training more local talent. It’s an exciting time.”
Since 2005, Protomet has experienced a 500 percent increase in sales and now has its own proprietary line of products marketed under the PTMEdge Watersports brand that makes and markets boating mirrors and wakeboard tower components for boats of all kinds.
The 21,500 square foot addition to Protomet will begin by June of this year and is expected to be finished by Dec. 31. Hiring for the new positions will begin immediately. For more information, visit http://www.protomet.com.