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Neo Begins Commercial Magnet Production in Narva and Plans Major Capacity Expansion
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The Narva magnet factory, which opened only last September, has started commercial production and is shipping the first magnets to European electric car engine manufacturers. Although the factory's full capacity will not be reached until the end of 2028, Canada's Neo Performance Materials is already planning the next production facility, which would increase Narva's annual magnet production from 2,000 tons to 5,000 tons.
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