ANMOORE, W.Va. – Amsted Rail is acquiring Advanced Graphite Materials in Anmoore.
During his Tuesday press briefing Gov. Jim Justice announced that Amsted Rail, a business unit of Amsted Industries, intends to continue employing the 140 current employees and plans to invest in increasing its workforce in the future.
According to a press release, Amsted Industries has recently become the majority owner of Advanced Graphite Materials, and it will expand the production of synthetic graphite at the existing site, enabling U.S. companies to access a domestic, high-grade graphite material for use in products like electric vehicle batteries and missile systems.
“This investment in West Virginia is unbelievable news,” Justice said. “Amsted Industries brings more than 100 years of global manufacturing excellence to our state. They are making a statement to the world that West Virginia is on the move and an excellent place to do business and manufacture products.”
This new venture ensures a domestic supply chain for synthetic graphite for critical sectors of the U.S. economy, the release explains. Amsted plans to increase synthetic graphite production at the site in the coming years, generating jobs and creating the first fully-integrated producer of anode grade materials based in the United States.
“I am excited to welcome Advanced Graphite Materials into the Amsted Industries family of companies. Recent events have made it clear how important it is to have dependable domestic supply of key materials like graphite for critical sectors of our economy. As a company 100% owned by U.S. employees, we are proud to be part of AGM’s West Virginia growth story – growth that will build domestic supply chain strength for key U.S. businesses and promote our national economic security.”Steve Smith, chairman, president and CEO of Amsted Industries
This acquisition marks the formal creation of Amsted Graphite Materials, LLC, a fully-integrated, U.S. owned and operated producer of synthetic graphite materials focused on the production of anode material for Li-ion and electric vehicle batteries, the specialty graphite needs of industrial customers, U.S. government defense systems and nuclear reactors, the release states.
Also on Tuesday, U.S. Sens. Joe Manchin, D–W.Va., and Shelley Moore Capito, R–W.Va., and U.S. Rep. David McKinley, R–W.Va., offered their commendation for the move.
“I am pleased to hear Amsted Rail is acquiring the Advanced Graphite Materials facility in Anmoore. This is great news for the 140 current employees, the Anmoore community and all of West Virginia. Amsted Rail is also committed to increasing their workforce and hiring capable, experienced West Virginians as they work to increase the AGM facilities’ productivity in the upcoming years. This investment in our state is great news for our economy and the manufacturing industry across our state. I look forward to the hardworking West Virginians at AGM proving yet again that investing in West Virginia pays off tenfold.”Sen. Joe Manchin
“AGM in Clarksburg is a world leader in graphite material science. Their customers in metal production, electronics, chemicals, aerospace, nuclear, and transportation show their versatility and longevity as a company. AGM’s acquisition by Amsted Industries will benefit our state as they take on new manufacturing lines. With this acquisition, AGM will be the first U.S.-based, synthetic graphite supplier, which is critically important for both the state of West Virginia and the nation. I’m excited for the growth this will create in the Clarksburg area.”Sen. Shelley Moore Capito
“Amsted Rail acquiring the Advanced Graphite Materials facility in Anmoore is great news for West Virginia and our country. They are saving nearly 150 jobs and are investing in expanding the facility over the next upcoming years. China dominates the market for production of synthetic graphite, so this investment is an important step to breaking our dependence on foreign suppliers for this vital material. This opportunity is a great investment in our state and can help our economy grow.”Rep. David McKinley
Amsted Rail’s president also provided a statement.
“This acquisition marks the formal creation of Amsted Graphite Materials, LLC, a fully-integrated, U.S. based and owned producer of synthetic graphite materials. Our capabilities will include the production of anode material for Li-Ion and electric vehicle batteries, as well as continuing to meet the specialty graphite needs of industrial customers, U.S. government defense systems, and nuclear reactors. As dependence on foreign supplies for critical materials becomes an ever-pressing issue, we are excited by the possibilities AGM provides for the U.S. to invest in the domestic production of critical synthetic graphite needs.”John Wories, president of Amsted Rail