Hematite plans manufacturing plant in Fayetteville, Tennessee
Hematite Inc., the Canadian auto supplier, will invest $11.5 million to establish a production facility in Fayetteville, Tennessee. The project is expected to create nearly 70 jobs over the next five years in Lincoln County.
The company will retrofit a vacant industrial building at 49 East Park Drive in Fayetteville. Hematite plans to be operational in the third quarter of 2020.
Hematite manufactures precision products from recycled materials for the automotive industry. The company’s products are designed to manage the impact of acoustics, airflow and water on vehicles. Hematite also designs and manufactures industrial products.
"We are really excited to have Hematite’s next location situated in Fayetteville. The location is a strategic fit with our customers’ locations as well as a great pool of local talent that we look forward to adding to our team. The process could not have worked better for us" said John Pavanel, President, Hematite Inc.
"I’m pleased to welcome Hematite to Tennessee and the addition of 70 new technical jobs for the residents of Lincoln County. Approximately 900 automotive businesses operate in the Volunteer State, and the strength of our auto industry continues to attract top companies like Hematite" said Governor Bill Lee.
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