Daejin Advanced Materials USA Inc. is investing $10.2 million to establish its second U.S. manufacturing and processing facility to meet demand for process trays for electric vehicle batteries.
The facility, which will include for injection molding, extrusion and vacuum forming, will be located in Cumberland City, Tenn., close to Daejin's EV battery customers including Ultium Cells' Spring Hill, Tenn., manufacturing plant.
The company expects to create 83 new jobs in the area as a result of the project, a Sept. 27 news release by the Tennessee Department of Economic and Community Development said.
"This plant will be an important operation, which will expand our business in North America," Sungjoon Yoo, CEO of Daejin Advanced Materials USA said in the release. "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."
Daejin did not immediately respond to inquiry for comment by Plastics News.
Troy, Mich.-based Daejin Advanced Materials USA Inc. is a subsidiary of South Korea-based Daejin Advanced Materials, which has about 1,000 employees in Asia, the U.S. and Europe.