Daejin Advanced Materials USA Inc. will invest $10.2M to establish its second U.S. manufacturing and processing facility in Cumberland City, Tennessee.
Located in a portion of the Stewart-Houston Industrial Park, a Select Tennessee Certified Site, Daejin Advanced Materials will be located in close proximity to its electric vehicle battery customers and partners in the southeastern U.S.
As a result of the project, the company will create 83 new jobs in Houston and Stewart counties over the next five years.
With an increase in consumer demand and newly awarded contracts with Ultium Cells’ Spring Hill, Tennessee, manufacturing plant, Daejin Advanced Materials’ Tennessee facility will allow the company to continue manufacturing process trays for electric vehicle batteries. In addition, Daejin Advanced Materials will expand its production to include a new line for plastic injection, plastic extrusion, vacuum forming and assembly.
Founded in 2019 and headquartered in Troy, Michigan, Daejin Advanced Materials USA Inc. supports research and development and specializes in the manufacturing of polymers for the electric vehicle battery industry. The company is a subsidiary of Korean-based Daejin Advanced Materials, which employs roughly 1,000 people across its operations in Asia, Europe and the U.S.
Since 2018, TNECD has supported 145 economic development projects in the Northern Middle Tennessee region, resulting in approximately 42,000 job commitments and nearly $8 billion in capital investment.
The CEO of Daejin Advanced Materials USA, Inc. Sungjoon Yoo stated, “We are very excited to have our second U.S. plant in Cumberland City, Tennessee. This plant will be an important operation, which will expand our business in North America. The local community and the State of Tennessee have been extremely supportive, and we strongly believe that our company and the community can work together and grow together in the years to come.”
TNECD’s Commissioner Stuart McWhorter said, “Our state has become a top location for automotive companies and suppliers like Daejin Advanced Materials as they continue to migrate and expand to the Southeast, and we believe that Tennessee’s central location will be the ideal spot to support this company’s success in the electric vehicle industry. Thank you to the Houston and Stewart communities and our partners at MTIDA for helping recruit this global brand to Cumberland City.”
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. For more information visit tnecd.com.
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