- Polymer and plastics manufacturer for EV battery industry to expand Michigan operations to Tennessee, invest more than $10 million in second U.S. location
CUMBERLAND CITY, Tenn. – 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 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.
QUOTES
“Our skilled workforce and strong business climate make Tennessee the ideal state for companies to thrive. I commend Daejin Advanced Materials for its commitment to invest and create jobs in Houston and Stewart counties so that Tennesseans can thrive.” – Gov. Bill Lee
“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.” – TNECD Commissioner Stuart McWhorter
“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.” – Sungjoon Yoo, CEO, Daejin Advanced Materials USA, Inc.
“Daejin Advanced Materials’ decision to locate in Cumberland City is monumental for both Houston and Stewart counties. We believe our community’s skilled workforce and business-friendly atmosphere will provide this company much success as it plants roots in Tennessee.” – Houston County Mayor Joey Brake
“On behalf of Stewart County, I want to thank Daejin Advanced Materials for placing its trust in our community. These new jobs and this company’s significant investment will be vital to this region, and we look forward to seeing the economic prosperity that this win will bring to both Houston and Stewart counties.” – Stewart County Mayor Robert Beecham
“We are proud to welcome Daejin Advanced Materials into the Cumberland City community. The company has committed to creating more than 80 new jobs, which will greatly impact both Stewart and Houston counties for years to come. Thank you to all our partners that helped to make this project a reality.” – Cumberland City Mayor Gary Vaughn
“TVA and Meriwether Lewis Electric Cooperative congratulate Daejin Advanced Materials on its decision to establish operations and create impactful job opportunities in Cumberland City. 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.” – John Bradley, TVA senior vice president of Economic Development
“Daejin Advanced Materials’ $10.2 million investment and decision to locate in Cumberland City is proof-positive that we are attracting 21st century companies to add to this region’s economic momentum. This project will not only boost the local manufacturing sector and provide job opportunities to more than 83 residents, but it will also strengthen the regional economy and support a more sustainable community for generations to come.” – Sen. Bill Powers (R-Clarksville)
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. Find us on the web: tnecd.com. Follow us on Twitter, Instagram and LinkedIn. Like us on Facebook. Subscribe to our YouTube channel.
TNECD Media Contact
Lindsey Tipton
Public Information Officer
(615) 339-6608
[email protected]
*Photo courtesy of Middle Tennessee Industrial Development Authority
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