Cumberland City – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Daejin Advanced Materials USA Inc. officials announced today the company will invest $10.2 million 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 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.
“We are very excited to have our second U.S. plant in Cumberland City, Tennessee,” said Sungjoon Yoo, CEO, Daejin Advanced Materials USA, Inc. “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.”
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.
“TVA and Meriwether Lewis Electric Cooperative congratulate Daejin Advanced Materials on its decision to establish operations and create impactful job opportunities in Cumberland City,” said John Bradley, TVA senior vice president of Economic Development. “Helping to attract and retain jobs and investment in the region is fundamental to TVA’s mission of service. We are proud to partner with Stewart-Houston Joint Industrial Development Board, Middle Tennessee Industrial Development Association, Houston County Government, Stewart County Government and the Tennessee Department of Economic and Community Development.”
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.
