TORONTO, Canada, June 13, 2018 – Neo Magnequench, a subsidiary of Neo Performance Materials Inc. (“Neo”, the “Company”) (TSX:NEO) and a leading global supplier of advanced rare earth magnetic materials, has been named the “Supplier of the Year” by Grundfos.
Grundfos is a global leader in advanced pump solutions and a trendsetter in water technologies that works to contribute to global sustainability by pioneering technologies that improve quality of life for people and care for the planet. Neo Magnequench supplies Grundfos with high-performance magnetic materials for some of Grundfos’ premium products, such as its Alpha line of high efficiency permanent magnet motor pumps. Neo Magnequench has served as a magnetic materials supplier to Grundfos for more than two decades.
“We have a very open and trustworthy partnership and collaboration on a very high scale. Magnequench has proven very strong and consistent performance in cost, quality, delivery and sustainability. And one of their strongest points have been in supporting Grundfos in research activities to improve the performance of our products,” said Klavs Hornum, Grundfos Group Vice President, Group Purchasing.
Grundfos noted that Neo Magnequench ensures that the raw materials supplied to Grundfos are in line with Grundfos’ high environmental requirements. Neo Magnequench has also helped Grundfos secure customers and supply new technology development and material samples to benefit Grundfos’ products.
“This award is very important to Neo, and it is a great honor to receive it. Grundfos and Neo Magnequench share the same culture with focus on sustainability and quality. We have worked together in more than twenty years and we want to keep building on this strong long-term relationship,” said Geoffrey R. Bedford, CEO and President of Neo Performance Materials.
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About Neo Performance Materials
Neo Performance Materials is a global leader in the innovation and manufacturing of rare earth- and rare metal-based functional materials, which are essential inputs to high technology, high growth, future-facing industries. The business of the Company is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. The Company is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, US; and Beijing, China. The Company operates globally with sales and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea. For more information, please visit www.neomaterials.com.
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