Rare Earth Prices Zoom & Business Booms at MP Materials
Prices are zooming and business is booming at MP Materials, the largest producer of rare earth materials in the western hemisphere. In November, it reported that revenues soared to $99 million in its most recent quarter, more than doubling from $41 million a year ago as prices for its rare earth oxides also more than doubled, supporting its plans to expand downsteam further into the magnetics business. Also, the company was recently awarded a contract from the US Department of Energy to conduct a feasibility study with the University of Kentucky on a system to recover rare earths from coal by-products. Read More
Amazing Magnets to Relocate to Expanded HQ in Texas
Amazing Magnets is planning to relocate its business operations from Anaheim, California and building a state-of-the art global headquarters in Round Rock, Texas. The new 40,000 square-foot building will have an engineering design workspace, a media and learning center, and an innovative warehouse facility to accommodate the company’s growth. Read More
Audio Precision Raises the Bar for Detecting Rub & Buzz Defects
If magnet material chips loose during the manufacture of speakers it can cause what audio designers call a “buzz defect”. This can be an onerous problem to detect but new software from instrument maker Audio Precision raises the bar for doing so. Read More
Espey Reports Business Rebound Amidst Impacts of Pandemic & Supply Disruption
Espey Mfg. & Electronics reports that its sales, profitability and order backlog are all up and cash position is solid, but its recent experience illustrates how the global pandemic and supply chain disruption can cause unprecedented upheaval for a company. A long-established provider of magnetic components, Espey’s primary business is the development, design and production of specialized military and industrial power supplies and transformers. Read More
