Nidec: NIDEC & NOVEON MAGNETICS ENTER OFF-TAKE AGREEMENT FOR RARE EARTH MAGNETS, STRENGTHENING U.S. SUPPLY CHAIN RESILIENCE

Agreement Marks Major Step Toward Building a Reliable, U.S. Supply Chain for Sintered NdFeB Rare Earth Magnets, Critical Components of Advanced Electric TechnologiesST. LOUIS and SAN MARCOS, Texas, Feb. 3, 2025 /PRNewswire/ -- Nidec Motor Corporation ("Nidec") and Noveon Magnetics today announced a 5-year, binding off-take agreement with the potential to supply more than 1,000 tons of total off-take of finished sintered NdFeB rare earth magnets, supporting Nidec's operations across critical industries including automation, industrial, and defense applications with deliveries beginning in 2025."As a leading global motor manufacturer, Nidec is excited to partner with Noveon to ensure we meet the needs of our customers while supporting efforts to develop a ...Full story available on Benzinga.com