Amsted Rail invests in West Virginia company

West Virginia

WASHINGTON, D.C. (WVNS) — West Virginia Governor Jim Justice announced Amstead Rail is investing in Advanced Graphite Materials in Anmoore, WV near Clarksburg.

Amsted Rail says they will keep employing the company’s 140 person workforce and plan to invest in increasing jobs.

“I am excited to welcome Advanced Graphite Materials into the Amsted Industries family of companies. Recent events have made it clear how important it is to have dependable domestic supply of key materials like graphite for critical sectors of our economy.  As a company 100% owned by U.S. employees, we are proud to be part of AGM’s West Virginia growth story – growth that will build domestic supply chain strength for key U.S. businesses and promote our national economic security,” says Steve Smith, Chairman, President and CEO of Amsted Industries.

U.S. Senators Joe Manchin (D-WV) and Shelley Moore Capito (R-WV), along with U.S. Rep. David McKinley (R-WV), released the following statements about the acquisition:

I am pleased to hear Amsted Rail is acquiring the Advanced Graphite Materials facility in Anmoore. This is great news for the 140 current employees, the Anmoore community and all of West Virginia. Amsted Rail is also committed to increasing their workforce and hiring capable, experienced West Virginians as they work to increase the AGM facilities’ productivity in the upcoming years. This investment in our state is great news for our economy and the manufacturing industry across our state. I look forward to the hardworking West Virginians at AGM proving yet again that investing in West Virginia pays off tenfold,”

U.S. Sen. Joe Manchin (D-WV)

“AGM in Clarksburg is a world leader in graphite material science. Their customers in metal production, electronics, chemicals, aerospace, nuclear, and transportation show their versatility and longevity as a company. AGM’s acquisition by Amsted Industries will benefit our state as they take on new manufacturing lines. With this acquisition, AGM will be the first U.S.-based, synthetic graphite supplier, which is critically important for both the state of West Virginia and the nation. I’m excited for the growth this will create in the Clarksburg area.”

U.S. Sen. Shelley Moore Capito (R-WV)

“Amsted Rail acquiring the Advanced Graphite Materials facility in Anmoore is great news for West Virginia and our country. They are saving nearly 150 jobs and are investing in expanding the facility over the next upcoming years. China dominates the market for production of synthetic graphite, so this investment is an important step to breaking our dependence on foreign suppliers for this vital material. This opportunity is a great investment in our state and can help our economy grow.”

U.S. Rep. David McKinley (R-WV)

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