Nidec and Noveon sign five-year agreement for US-made rare earth magnets
February 12, 2025
Nidec Motor Corporation, headquartered in Kyoto, Japan, and Noveon Magnetics, San Marcos, Texas, USA, have announced a five-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. The magnets are intended to support Nidec’s operations across critical industries, including automation, industrial, and defence 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 robust supply chain for critical components essential to our industries,” said Michael Briggs, president of Nidec Motion & Energy. “Noveon’s EcoFlux magnets deliver a sustainable, superior finished product for our business units, enhancing the high standard of performance and quality we deliver to our customers. This partnership further reinforces the importance of a strong US manufacturing capability, and we are proud to lead the way in building a sustainable, resilient, and strategically vital domestic supply chain for our future.”
Noveon is reportedly the only operational manufacturer of sintered NdFeB rare earth magnets in the United States. Noveon’s EcoFlux magnets are the product of a total magnet manufacturing capability, enhancing resource efficiency and enabling the beneficial use of recycled materials directly in magnet production, ultimately delivering a superior high-performance product. Under the agreement, Noveon will supply Nidec with its EcoFlux magnets which offer supply chain stability, reliability, and superior performance.
“Securing a reliable and sustainable American-made source of rare earth magnets allows Nidec to enhance its operational resilience and competitive advantage while contributing to the broader effort to strengthen US manufacturing capacity in strategically important sectors,” said Mark Weisheit, Vice President of Procurement at Nidec Motion & Energy.
“This agreement is a critical step in strengthening America’s industrial base and ensuring the availability of advanced rare earth magnet technology for our nation’s most strategic industries,” stated Scott Dunn, CEO of Noveon Magnetics. “Together with Nidec, we are advancing a domestic solution to meet the growing demand for high-performance materials across critical sectors – industrial, automation, robotics, automotive, energy, and defence – while addressing the geopolitical and operational challenges posed by a reliance on foreign supply chains.”
