daido steel, mitsubishi and molycorp to establish a next-generation ndfeb sintered magnet manufacturing and sales joint venture.
Mitsubishi Corporation (MC)
And Molly. (MCP)
An agreement has been reached to establish a joint venture to produce and sell the next-
Iron Boron (NdFeB)
Sintering magnet Hotel in Fuzhou, Ji.
The newly formed company has a capital contribution ratio of 35. 5%by Daido, 34.
MC is 5% and MCP is 30%.
According to the rare earth supply measures plan, the new company\'s business will be funded by three individual shareholders and a government sponsored by METI. Anext-
Nakatsugawa, GEFU state, will build a generation of NdFeB magnet manufacturing plants with an annual output of 500 tons and plans to start operations by January 2013.
At present, NdFeB magnets are considered to be the most powerful permanent magnet materials made of rare earth materials such as rare earth and rare earth.
As a key component of high performance motor (
Power training for electric vehicles and hybrid vehicles compressors for motors, air conditioners and wind turbines)
With the development of environmental protection technology, the demand is expected to increase.
The joint venture will obtain licensed intellectual property rights for NdFeBmagnet products developed by its inventor Dr.
The next step is saskawa Masato manufacturing.
Dai NdFeB magnet and will supply rare earth materials from MCP rare earth mine in Yamaguchi, California, USAS. A.
The new company will be engaged in the next phase of production and sales.
Taking full advantage of Dada\'s commercial scale network manufacturing technology, MC\'s global marketing and sales network and MCP\'s supply of rare earth resources, a generation of NdFeB magnets with significant demand growth can be foreseen.
The three shareholders have agreed to put the business of Nakatsugawa\'s new plant on track in a short period of time and expand the business in the United States and other international regions in the future.
About Mitsubishi Corporation (MC; TSE: 8058)
It is a globally integrated business enterprise, developing and operating business in almost every industry including industrial finance, energy, metals, machinery, chemicals, food and environment business.
The Mc \'scurrent activity is far beyond the traditional trading business, with a wide range of businesses ranging from natural resource development to investment in retail operations, infrastructure, financial products and manufacturing of industrial products.
MC has more than 200 business bases in about 80 countries around the world, and has a network of more than 500 group companies, employing nearly 60 000 multinational labor.
For more information, please visit. mitsubishicorp. com.
About Dado steel, Ltd. Daido Steel Co. , Ltd.
Established in 1950, engaged in the production of special steel.
Special Steel revenue accounted for 68% in fiscal 1999;
Wholesale and distribution Source: Mitsubishi Limited, Ltd.
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