History

Molycorp Magnequench Timeline

1986 By creating the “Magnequench” division, GM commercializes its 1982 invention of Neo powder and the related process for producing it and bonded Neo magnets. In the same year, Magnequench builds a 175,000 sq. ft neo powder and neo magnet production facility in Anderson,Indiana.
1995 China National Non-Ferrous Metals Import & Export Corp. (CNIEC), San Huan and Sextant MQI Holdings acquire Magnequench on 30th September.
1998 Magnequench acquires a China based alloy producer and begins building a 145,000 sq. ft neo powder production facility in Tianjin, China.
1999 Magnequench opens a technology center in North Carolina.
2000 Neo powder production commences at the Tianjin plant, and Magnequench acquires two magnet manufacturers.
2001 Magnequench ceases powder production in Indiana in December and consolidates all production at Tianjin, China facility.
2002 Indiana plant is closed.
2004 Two magnet manufacturers are divested, and Magnequench expands its operations in Singapore, including the movement of the technology center from North Carolina, as well as the addition of sales and marketing resources and the relocation of its administrative and finance functions.
2005 Magnequench merges with AMR Technologies, Inc. of Toronto, Canada. Neo Materials Technologies, Inc. is established.
2006 43,000 sq. ft Korat, Thailand facility is equipped with two MQ jetcasters.
2007 Production begins with Korat, Thailand manufacturing facility. MAGNEQUENCH and Hitachi agree to exclusive licensing agreement for US Patent 5,645,651.
2012 Magnequench aquired by Molycorp, Inc.