ASM signs agreement for sale of NdFeB alloy to Noveon Magnetics

We are delighted to announce the signing of a sales agreement with US based rare earth magnet manufacturer Noveon Magnetics Inc. (Noveon) for 100 tonnes of neodymium iron boron (NdFeB) alloy from our Korean Metals Plant (KMP). This marks our first sale of NdFeB alloy from the KMP since successful commissioning of the strip alloy caster earlier this year.

This also represents the start of a strategic partnership with Noveon, with ASM’s Rowena Smith saying:

As we continue to work with Noveon, we look forward to ongoing discussions to meet Noveon’s supply requirements in line with their development.

The NdFeB alloy is to be delivered during a one year period, with the first shipment anticipated to occur by the end of June 2023.