10:43 AM EST - Neo Performance Materials Inc. : Announced that, due to increased demand, its Magnequench segment intends to significantly expand its capacity to produce compression molded NdFeB ("neodymium-iron-boron") magnets and assemblies, used in the automotive, electronics, home appliance and other industries. Magnequench plans to expand its existing MQ1™ compression molded magnet production capacity at the two existing facilities where it currently manufactures these products: Tianjin and Chuzhou, China. Magnequench is the only supplier in the world that produces NdFeB magnetic powders and compounds, as well as compression molded NdFeB magnets and assemblies at multiple locations. Neo Performance Materials Inc.
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