“MVP pursues new vision for organization with change in ownership, as the company plans to diversify product offerings into existing and new markets”.
March 5th, 2015, Knoxville, Tennessee – Magnum Venus Products, Inc. (MVP), the premiere manufacturer of composite application equipment announced today that it has restructured the company’s ownership as it pursues new vision in expanding the company by diversifying product offerings in existing and new markets. The company has redeemed shares held by Tom Hedger and he will be stepping out of his role as CEO.
“The leadership, expertise and incredible knowledge that Tom has brought to MVP has been highly instrumental in shaping and guiding MVP into the company that it is today”, said MVP President & CFO, Pete Hedger. “We have seen our company grow significantly in size and have continued over the years to remain on the forefront of product and technological innovations in large part due to Tom’s commitment to not only our organization, but the industry as well,” said Pete Hedger. Tom Hedger will remain involved with MVP in a consultative capacity.
In other news MVP today continues initiatives in the composites industry by its recent announcement of its partnership with the Institute for Advanced Composites Manufacturing Innovation (IACMI), in which MVP is donating financial, manufacturing, equipment, and human resources to support IACMI’s mission to reduce technical risk and develop a robust supply chain for advanced composite materials.