Spectrum Lubricants to Expand Selmer FacilityMonday, October 29, 2012 | 02:02 pm
Company to Invest $1.8 Million, Create 26 Additional Jobs in McNairy County
NASHVILLE — The Tennessee Department of Economic and Community Development and Spectrum Lubricants today announced plans for the company to expand its Selmer, Tenn. facility. The expansion represents a $1.8 million investment and will create 26 new, full-time jobs in McNairy County.
“We’re grateful for Spectrum Lubricants’ continued confidence and investment in our state,” Allen Borden, ECD assistant commissioner, statewide operations, said. “Gov. Haslam’s leadership has continued to further Tennessee’s reputation as a business-friendly location for companies to build and grow in, and this decision by Spectrum Lubricants underscores that reputation.”
Spectrum Lubricants is an independent blender, compounder, packager and marketer of specialty lubricants including two-cycle engine oil, bar and chain oil, small engine oil and hydraulic oil. The company serves the outdoor power equipment, lawn and garden and agricultural markets, and the marine and automotive aftermarkets.
“We are thankful for the support and partnership given to us by the McNairy County Economic Development Commission and the Tennessee Department of Economic and Community Development,” Kent Farmer, president and CEO, Spectrum Lubricants, said. “We are fortunate to have such strong partnerships within our state. I’d like also to thank Dominus Capital Partners who provided support for the expansion. Everyone here at Spectrum Lubricants is excited to be able to provide additional employment opportunities for the residents of McNairy County as well as to broaden our service capabilities for our existing customers.”
“We are excited about the expansion plans of Spectrum,” Ted Moore, executive director, McNairy County Economic Development Commission, Inc., said. “Locally, they received the McNairy County Industry of the Year Award and continue to be an outstanding employer. Their continued growth during difficult economic conditions is a reflection of excellent management along with skilled and dedicated employees. We appreciate the positive influence they have on our local economy and offer our continued support for a successful and profitable relationship.”
"We are very pleased that Spectrum Lubricants has committed to expand their business interests in Selmer and McNairy County," said Robert Shackelford, chairman of the Selmer/McNairy County Industrial Development Board. "Our Board has worked very closely with Spectrum's leadership team on this project, and we are excited to see it become a reality. When industry prospers, our local economies are strengthened. The benefits that Spectrum brings to our community are many, and we anticipate a long, mutually beneficial relationship."
The company’s Selmer facility is located at 500 Industrial Park Drive. The announced 26 jobs will be added to the company’s existing Selmer workforce of approximately 200.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tn.gov/ecd. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.
Media Contact: Valerie Somerville, ECD
Office: (615) 532-1925