- Neo Performance Materials (TSX:NEO) extended its magnets supply partnership with global technology powerhouse Bosch through a new multi-year memorandum of understanding
- Neo manufactures advanced industrial materials for modern technologies, including magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals and alloys
- The critical materials stock has added 115.88 per cent year-over-year and 56.40 per cent since 2020
Neo Performance Materials (TSX:NEO) extended its magnets supply partnership with global technology powerhouse Bosch through a new multi-year memorandum of understanding.
This content has been prepared as part of a partnership with Neo Performance Materials Inc., and is intended for informational purposes only.
Neo will reserve a significant percentage of its production capacity for Bosch, grounded in what Friday’s news release refers to as “a clear mutual target for both partners to transition the capacity reserve into definitive projects.”
The news coincides with Neo’s new manufacturing capacity in Estonia, with design and construction planning well underway, positioning the company to strengthen its role as a top magnets supplier across numerous industries, including automotive, factory automation, media storage and residential appliances.
Leadership insights
“Entering this extended partnership with Bosch is an important step in building a resilient and sustainable supply chain for our customers,” Rahim Suleman, president and chief executive officer of Neo Performance Materials, said in a statement. “This secures a significant portion of our future production and speaks to our strategy of prioritizing partnerships with the world’s largest and most innovative companies.”
About Neo Performance Materials
Neo manufactures advanced industrial materials for modern technologies, including magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals and alloys. The company operates manufacturing facilities in China, Germany, Canada, Estonia, Thailand and the United Kingdom, plus a research and development center in Singapore.
Neo Performance Materials stock (TSX:NEO) last traded at C$16.86. The stock has added 115.88 per cent year-over-year and 56.40 per cent since 2020.
Join the discussion: Find out what investors are saying about this critical materials stock on the Neo Performance Materials Inc. Bullboard and make sure to explore the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein.
For full disclaimer information, please click here.
