RICHMOND - Governor Terry McAuliffe announced today that Wolverine Advanced Materials (Wolverine) will invest $10.625 million to expand its specialty rubber coated materials manufacturing operation in Montgomery County. The company produces high-performance materials used in automotive and industrial noise reduction for brake and sealing applications. Virginia successfully competed against China, Florida and Illinois for the project, which will create 93 new jobs.
Wolverine Advanced Materials is a leading developer, manufacturer and supplier to global friction and OEM manufacturers such as Daimler, BMW, GM, Chrysler, Ford and other high-quality clients that demand high-performance materials. The companys core competency is in performance-critical, specialty elastomer-coated metals that offer damping and seal-ability solutions in the Automotive Brake, NVH, and Sealing industries. Extensive industry knowledge and innovative materials have made Wolverine a desired and trusted global supplier for over 80 years. Wolverine has offices in Virginia, Florida, Michigan, Germany, Japan, China, Brazil, and India. Principally owned by Wynnchurch Capital Partners, Wolverine employs approximately 600 people worldwide, with global headquarters in Dearborn, Michigan.
With our rich company history in Virginia, Wolverine is excited about expanding our manufacturing operations in Montgomery County, said Grant Beard, Chairman, CEO, and President of Wolverine. This investment will help Wolverine grow its global business while simultaneously benefiting Montgomery County through our expanded workforce.
The Virginia Economic Development Partnership worked with Montgomery County and the New River Valley Economic Development Alliance to secure the project for Virginia. Governor McAuliffe approved a $250,000 grant from the Governors Opportunity Fund to assist Montgomery County with the project. The company will receive benefits from the Port of Virginia Economic and Infrastructure Development Grant Program. Funding and services to support the companys employee training activities will be provided through the Virginia Jobs Investment Program.