Orangeburg-based Zeus Industrial Products, a polymer extrusion manufacturer, announced Wednesday that it’s purchased a new facility for its Chattanooga, Tennessee operations.
The transaction closed Aug. 7 for an undisclosed amount, according to a company press release.
The purchase comes about a year after Zeus acquired Chattanooga’s MWC Technologies, LLC. Zeus has operated in MWC’s existing facility, but has outgrown it.
“With the purchase of MWC Technologies, Zeus gained important capabilities that fit nicely with our product strategy," Zeus President Steve Peterson said. "The unique advantages we created helped grow demand for our existing products and expand our portfolio with new solutions."
"However, for production to keep pace with this growth, we needed a larger facility," Peterson said. After purchasing the new Chattanooga 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.”
The newly purchased property offers 143,000 square feet of manufacturing and office space.
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Zeus will renovate the entire facility in two phases.
The first phase involves renovating a portion of the facility for immediate use. This portion will house operations from the existing Chattanooga facility.
Zeus plans to leave the leased facility later this year and begin operations at the new facility.
“The capabilities of the new facility will allow us to expand existing Zeus product lines as well as introduce new product offerings more quickly and easily,” said Wayne Conley, plant manager at the Zeus Tennessee plant.
"In addition to manufacturing operations, we will also conduct development activities at this facility," Conley said. "Our ongoing focus on innovation will continue to create new value streams for our customers.”
The purchase of the property is the latest project in Zeus’ ongoing expansion.
Last month, Zeus entered into a contract to purchase a building located at 3777 Industrial Boulevard in Orangeburg.
Also, Zeus recently purchased a facility in St. Matthews and is constructing a new plant in Sandy Run.
Zeus employs about 1,700 people worldwide with sales and manufacturing facilities in Aiken, Gaston, and Orangeburg as well as Branchburg, New Jersey; Chattanooga, Tennessee; Guangzhou China and Letterkenny, Ireland.