A lawsuit filed by a former business associate against a firm owned by two men who also are involved in plans for a Blount County munitions plant has been dismissed.
The federal lawsuit in Nevada was dismissed Tuesday.
Mark Kresser, former president of Advanced Tactical Armament Concepts, or ATAC, alleged fraud, breach of contract and conspiracy against ATAC.
ATAC, of Payson, Ariz., is operated by Jim and Jeff Antich, who also own and separately operate Advanced Munitions International, or AMI, which has announced plans to open a $553 million plant in Alcoa. In his lawsuit, Kresser had also alleged that AMI would not be able to afford building the Alcoa headquarters, an allegation that an AMI spokeswoman last week said was false.
Word of the dismissal of Kresser's lawsuit was released Wednesday.
Spokeswoman Mary Beth West said in a statement "no settlement or exchange of any type between plaintiff and defendants took place."
The release includes a statement from Jim Antich: "We are pleased to move past this matter and, as before, wish Mr. Kresser well in his future endeavors.
AMI announced plans to move to Alcoa last year. Then, company officials told WBIR 10News they planned to break ground in March – though that hasn't happened yet.
Jim Antich addressed munitions plant plans in a statement last week to 10News.
"As with any major project in excess of $300 million in its initial Phase One development, there are many elements to manage on a relatively short timeline. However, we feel confident that AMI is well-poised to stay on track with its agreement with local and state governmental entities in Tennessee.”
For their new headquarters, AMI purchased about 235 acres of land at Louisville Loop and Proffit Spring Road in Alcoa from the Blount County Industrial Development Board for $1. They were also awarded a $6.05 million FastTrack grant by the state, though none of that money has not been disbursed yet.
(© 2016 WBIR)