Daejin Advanced Materials to invest $10.2 million to add operations in Stewart Co.
NASHVILLE, Tenn. (WSMV) - Tennessee Gov. Bill Lee, state officials and Daejin Advanced Materials USA Inc. officials announced Tuesday the company will establish its second U.S. manufacturing and processing facility in Stewart County.
The company will invest $10.2 million to establish the facility 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.
“Our skilled workforce and strong business climate make Tennessee the ideal state for companies to thrive,” Lee said in a statement. “I commend Daejin Advanced Materials for its commitment to invest and create jobs in Houston and Stewart counties so that Tennessean 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,” Sungjoon Yoo, CEO, Daejin Advanced Materians USA, Inc., said in a statement. “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.
“On behalf of Stewart County, I want to thank Daejin Advanced Materians for placing its trust in our community,” Stewart County Mayor Robert Beecham said in a statement. “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.”
“Daejin Advanced Materials’ decision to located in Cumberland City is monumental for both Houston and Stewart counties,” Houston County Mayor Joey Brake said in a statement. “We believe our community’s skilled workforce and business-friendly atmosphere will provide this company much success as it plants roots in Tennessee.”
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.
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