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TENNESSEE, 29 September 2022: Daejin Advanced Materials USA Inc will invest USD 10.2m in its second manufacturing and processing facility proposed in Cumberland City, Tennessee.
Battery components at new facility
Daejin Advanced Materials’ Tennessee location will enable the business to carry on producing process trays for electric vehicle batteries thanks to a rise in customer demand and recently won contracts with Ultium Cells‘ Spring Hill, Tennessee, production factory.
Additionally, Daejin Advanced Materials will increase its output by adding a new line for vacuum shaping, assembly, plastic injection, and extrusion.
Accessibility
Daejin Advanced Materials will be close to its clients and partners who manufacture the batteries for electric vehicles in the Southeast of the United States because of its location in a section of the Stewart-Houston Industrial Park, a Select Tennessee Certified Site.
Over the following five years, the project will enable the corporation to add 83 new employment to Houston and Stewart counties.
Comments
Bill Lee, Tennessee Governor, Department of Economic said, “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.”
“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 stated.
Company established
Daejin Advanced Materials USA Inc. was established in 2019 and has its main office in Troy, Michigan. The company is focused on producing polymers for the electric vehicle battery market and supports research and development. The business is a division of Daejin Advanced Materials, a Korean firm with operations in Asia, Europe, and the United States and a workforce of about 1,000 people.
