US To Expand Rare Earth Magnets Production

URLhttps://www.rttnews.com/3391642/us-to-expand-rare-
SourceRTTNews
Date Published09/20/2023

Additional Reshoring Information:

Company/Division name E-VAC Magnetics
Parent companyVAC Group
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2025
Capital investment ($):94.1
Country(ies) from which reshored:Germany
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredrare earth element magnets
What non-domestic negative factors made offshoring less attractive?Supply chain interruption
What domestic positive factors made reshoring more attractive?Government Incentives
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