Two companies based in Sheffield, England will open their first United States joint-venture operation in Ridgeway, company and local officials announced today.
Advanced Revert LLC will place its first US operation at the former DH Griffin property located at 1131 Mica Road, in Henry County. Advanced Revert LLC is a joint-venture partnership between Advanced Alloy Services Ltd and Revert Alloys and Metals Ltd, both well-established companies in the historic metals and mining region around Sheffield, England.
The announcement was made at the Commonwealth Centre for Advanced Training (CCAT) as part of an afternoon of events at CCAT. The Mica Road location that will be used by Advanced Revert LLC also is in Ridgeway.
The new company plans to invest approximately $5 million in property and equipment along with plans to hire over 30 employees over the next few years.
The new operation will allow Advanced Revert LLC to service the growing US market that both companies currently serve from the UK. The combined company will afford greater ease of access and faster service to existing and new customers.
The companies have extensive industry knowledge and experience with tried and tested revert management solutions that increase competitive purchasing power by adding value through effective recovery and recycling of valuable metals. The companies recycle a wide variety of grades of specialist steels, nickel, cobalt and titanium-based superalloys and pure metals. The metals are sorted, segregated, processed, certified and then sold to end users around the world to be melted into new superalloys used in high temperature and harsh environment applications including aerospace, power generation, oil and gas and the medical industry.
“Once again an international company has chosen Henry County as the location for its first US operation,” said Jim Adams, Chairman of the Henry County Board of Supervisors. “Not only will Advanced Revert LLC call Henry County home but it will bring life back to the former DH Griffin and Ridgeway Clocks location.”
The Martinsville-Henry County Economic Development Corporation and Henry County officials worked with Advanced Revert LLC to bring the company to Henry County. The company was initially introduced to the EDC by Joe Anwyl of Invest Southern Virginia, an initiative of Mid Atlantic Broadband (MBC) and the Virginia Tobacco Commission.
“We are grateful for Advanced Revert LLC’s decision to locate in Henry County,” said Larry Ryder, Chairman of the EDC Board of Directors. “Advanced Revert LLC continues Martinsville-Henry County’s growing international presence and adds the fourth UK company to our manufacturing base.”
In lieu of a traditional incentive package, Advanced Revert’s preference was to work directly with American National Bank due to the nature of their worldwide business model. The EDC and the Harvest Foundation will make funding assistance available as the company progresses toward its initial goals of capital investment and employment targets.
“We can’t say enough about the warm welcome we have received in Martinsville-Henry County said Andrew Skinner, Vice President Commercial, of the new company. “We thank Henry County, the EDC, Billy Kirby at American National Bank and attorney John Gregory for their assistance throughout this process. Starting a new venture in a new country can be a daunting and at times a confusing journey, but everyone here went above and beyond to make this work and we say thank you to all who have helped us.”
John Cox, Vice President Operations, “I would like to thank all of those involved for the opportunity to locate our new joint business venture in Martinsville-Henry County. I would like to give a special mention to Mark Heath from the EDC for his continued support and belief. I can’t wait to open the doors on the former DH Griffin building and look forward to working with the local people”
Stephen Hall, President, “The help, encouragement and support of Henry County and in particular the personal focus and attention that has come from Mark Heath, Tim Hall, John Gregory, Billy Kirby and Joe Anwyl has been nothing short of amazing. It made Ridgeway an easy choice for the location of our first facility in the US. We are all very excited and looking forward to getting started.”