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Permag Enhances Supply Chain Security with New Strategic Collaboration

Permag, a leading company in high-precision magnets and magnetic assemblies, announced a significant strategic partnership with Solvay and Less Common Metals (LCM) aimed at securing a reliable supply of rare earth materials essential for the manufacturing of high-performance magnetic products. This collaboration promises to bolster the supply chain while underlining Permag's commitment to its customers’ success.

The Importance of Rare Earth Elements

Rare earth elements, specifically samarium, are critical components in the production of advanced magnets, which play a pivotal role in various high-tech applications, including electric vehicles, renewable energy technology, and aerospace. As demand for these materials surges, establishing a steady supply is more important than ever for manufacturers like Permag.

Details of the Agreement

Through this partnership, Solvay will leverage its access to rare earth concentrates and advanced separation technologies to produce pure samarium oxides. On the other hand, LCM will contribute its expertise in metallization processes, creating a synergistic relationship that ensures the reliability of the supply chain. The collaboration is projected to meet the market demands for the next three to five years, thus providing both stability and predictability for Permag’s clients.

Joe Stupfel, CEO of Permag, emphasized that the company's primary focus is on its clients' success. He stated, "We are committed to ensuring a reliable supply of materials and providing the dedicated support they need to achieve their objectives." This partnership is a critical step towards achieving that goal and further enhances Permag's supply chain strategy.

Solvay's Role in the Partnership

An Nuyttens, President of Solvay Special Chem, highlighted the proactive measures being taken to ensure a secure supply of these critical elements. He stated, "By collaborating with Permag and LCM, we are taking significant steps to secure the supply of rare earth materials in different parts of the world. This reinforces our commitment to providing essential resources for high-performance applications."

A Long-term Vision

Permag’s approach to securing its supply chain, which includes ongoing negotiations with other suppliers worldwide, is indicative of its long-term vision to ensure uninterrupted product availability for its customers. The confidence this partnership instills means clients can focus on their growth trajectories while Permag takes care of their magnet requirements.

About Permag

Permag is the only producer of samarium-cobalt magnets in North America and is recognized as a global leader in high-performance magnetic solutions. The company provides state-of-the-art materials, precision components, and manufactures advanced magnets and magnetic assemblies tailored for industries where performance is paramount. With a rich legacy built through companies like Dexter, EEC, and MCE, Permag is dedicated to driving innovation, delivering top-quality products, and tackling its clients' most challenging issues.

For more information, contact:
Gustavo Olano
Senior Director of Marketing
(978) 201-6910

This strategic agreement marks a crucial advancement for Permag, ensuring its position in the market while addressing the growing need for reliable access to essential materials.