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CHARLESTON, WV – Gov. Jim
Justice announced today Amsted Industries has recently become the
majority owner of Advanced Graphite Materials (AGM), located in
Clarksburg, West Virginia. Amsted Industries 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 such
as electric vehicle batteries and missile systems.
“This investment in West Virginia is unbelievable news,” Gov. 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. 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.
“As a company 100% owned by U.S. employees, we are proud to welcome AGM
to Amsted Industries’ global family of more than 18,000 employees. We are
delighted to be part of AGM’s West Virginia success story and the role it
will play in building a domestic supply chain for this important material
used to support our national economic security,” said Steve Smith,
Chairman 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.
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