Brief: Neo Launches Construction Of European Permanent Rare Earth Magnet Plant To Support EV And Wind Turbine Manufacturing

Neo Performance Materials

07/07/2023 12:06

July 7 (Reuters) - Neo Performance Materials Inc
 NEO.TO :
    * NEO LAUNCHES CONSTRUCTION OF EUROPEAN PERMANENT RARE EARTH
MAGNET PLANT TO SUPPORT EV AND WIND TURBINE MANUFACTURING
    * NEO PERFORMANCE:PHASE1 PRODUCTION OF 2,000 TONNES/YEAR IS
SLATED
TO BEGIN IN 2025, AMOUNT THAT CAN SUPPORT MANUFACTURING OF ABOUT
1.5MLN ELECTRIC CARS
    * NEO PERFORMANCE MATERIALS INC - NEO'S EXPECTED PHASE 2
PRODUCTION OF 5,000 TONNES/YEAR CAN SUPPORT MANUFACTURING OF
ABOUT 4.5 MILLION ELECTRIC CARS

Source text for Eikon:  ID:nCNWS9JSGa 
Further company coverage:  NEO.TO 

 (Reuters.Briefs@thomsonreuters.com)