Neo Performance Materials expands magnet supply deal with Bosch

Neo Performance Materials (OTCPK:NOPMF [https://seekingalpha.com/symbol/NOPMF]) on Friday announced [https://seekingalpha.com/pr/20238229-neo-extends-strategic-partnership-for-high-performance-magnets-with-bosch]the signing of a multi-year memorandum of understanding with Robert Bosch GmbH.

Given this extended supplier partnership and with Neo's new capacity launch planning, Neo will reserve significant annual magnet production capacity for its customer, Bosch, with a clear mutual target for both partners to transition the capacity reserve into definitive projects.

By reserving capacity with Neo (OTCPK:NOPMF [https://seekingalpha.com/symbol/NOPMF]), Bosch is taking a proactive step to ensure a stable supply chain network and to foster supply chains that develop localized production, through competition and innovation, the company said.

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* Historical earnings data for Neo Performance Materials Inc. [https://seekingalpha.com/symbol/NEO:CA/earnings]
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