COMPASS REAL ESTATE SELLS DANDRIDGE WAREHOUSE TO WETEKAM MONAFILAMENTS USA
By Justin Ochs | Published July 14, 2014
NASHVILLE—Tennessee Economic and Community Development Commissioner Bill Hagerty along with Wetekam Monofilmanets USA officials today announced the company will locate a new manufacturing facility in Dandridge, Tennessee. Wetekam Monofilaments USA has purchased a 93,000-square-foot facility in the Jefferson County Industrial Park where it will manufacture industrial monofilament yarns through a high-tech intrusion process. The company plans to invest $3.8 million in this facility and create 32 new jobs. This warehouse was currently listed and sold by Compass Real Estate on behalf of the FDIC.
“Tennessee has seen major growth in manufacturing jobs since Governor Haslam took office. In the last three years, more than 20,000 net new manufacturing positions have been created in our state, making us second in the Southeast for job creation in the sector,” Hagerty said. “Wetekam Monofilaments’ decision to locate in Tennessee underscores our unique geographical advantages and business-friendly climate. I appreciate their investment and the new jobs they are creating in East Tennessee.”
Established in 1965, Wetekam Monofilaments is one of the largest monofilament yarn manufacturers in Germany. Currently, 45 percent of its production is for export; 30 percent of production is estimated to be for the North American market. The Jefferson County facility will assume production responsibilities for U.S., Canadian and South American customers.
In Germany, Wetekam operates an in-house laboratory and technical facilities to perform tests required by customers to determine exact properties including strength and flexibility. A similar lab will be a part of the Dandridge plant. With its technologies and highly developed production methods, Wetekam individually optimizes products that have been customized according to customer specificiation.
Wetekam Monofilaments yarns are used by a broad range of manufacturers in a variety of products. Customers are technical weavers, braiders, tufters and knitters. Important industries supplied are automotive, medical, sport (turf, tennis racquet strings, fishing line), and upholstery, among others. Wetekam Monofilaments turf yarn has been installed in several major U.S. sports stadiums.
The company will begin hiring around the beginning of 2015. Those interested in applying can email email@example.com.
Justin Ochs, M.S., CAI
Compass Auctions & Real Estate
“Choosing the right company to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Compass Auctions & Real Estate works to secure the highest dollar for your assets”