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Neo Performance Materials to build magnet factory in Narva, Estonia · Endata

◂ Announcements

Jul 19, 2023NEW FACILITYNarva, Ida Viru County, Estonia

Neo Performance Materials to build magnet factory in Narva, Estonia

Neo Performance Materials plans to construct a magnet factory and R&D center in Narva, Estonia, with an investment of €81.25 million plus €18.75 million from Estonia's Just Transition Fund. Phase 1 will produce 2,000 tons/year of sintered rare earth permanent magnets, with manufacturing operations expected to start in 2025.

Value

$90.0M (81.3M EUR)

Starts operating

2025

Status

Announced

Capacity

2,000 tons/year of sintered rare earth permanent magnet block

Productssintered rare earth permanent magnets

CompaniesNeo Performance Materials Inc.

Sectors#Industrial Machinery

“The facility is believed to transform the region’s economy, providing jobs and paving the way to a clean energy transition.”global-recycling.info

1 source
global-recycling.infoEstonia: New Magnet Factory – GLOBAL RECYCLINGGLOBAL RECYCLING RedaktionJul 19, 2023

Summarized from public sources; check the original articles before acting on it.

More from Neo Performance Materials Inc.

Aug 6, 2024CONTRACTEstonia, Estonia
Neo Performance Materials wins sintered magnet supply award from European EV Tier 1 manufacturer
Neo Performance Materials Inc.Magnequench Sintered Magnets newswire.ca autotechinsight.spglobal.com magneticsmag.com
Nov 23, 2023NEW FACILITYNarva, Estoniaops 2025
Neo Performance Materials building €100M magnet factory in Narva
Neo Performance Materials Inc.miningsee.eu
Nov 9, 2022NEW FACILITYIda Viru County, Estonia, Estonia$19.5Mops 2025
Neo Performance Materials plans sintered rare earth magnet plant in Estonia
Neo Performance Materials Inc.Silmet partner newswire.ca investinestonia.com
Aug 22, 2022ACQUISITIONSarfartoq, southwest Greenland, Greenland
Neo Performance Materials to acquire exploration license for Sarfartoq rare earth project from Hudson Resources
Neo Performance Materials Inc. acquirer Hudson Resources target globenewswire.com
Sep 30, 2018ACQUISITION$612.0M
Luxfer Holdings to acquire Neo Performance Materials for $612M
Luxfer Holdings PLC acquirer Neo Performance Materials Inc. target sec.gov

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