Zhaobao Building New Factory to Boost Neodymium Magnet Production 

Construction of massive new factory for Zhaobao Magnet in China slated for completion by 2024 

Targeting to boost its production capacity of sintered neodymium magnets to 8,000 tons per year, Zhaobao Magnet of Ningbo, China is building a large new factory with plans to go onstream next year. Formally known as Ningbo Zhaobao Magnet Co., Ltd., the company is one of China’s highest-volume magnet manufacturers. 

Advanced equipment and greater capacity at the plant will reduce production costs, lay a solid foundation for standardized production improving efficiency and market competitiveness in the global market, says the company. The new factory covers an area of 33,371 square meters. In addition to the machinery and production operations, it will feature modern rest areas, exercise and fitness areas for employees. For more info, see www.zhaobao-magnet.com and www.magnetezb.com