NOVEON MAGNETICS COMPLETES $215 MILLION SERIES C TO EXPAND U.S. RARE EARTH MAGNET MANUFACTURING CAPACITY

URLhttps://www.prnewswire.com/news-releases/noveon-ma
SourcePR Newswire
Date Published01/19/2026

Additional Reshoring Information:

Company/Division name NOVEON MAGNETICS
Parent companyNOVEON MAGNETICS
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2026
Domestically, the work will be done:In-house
Capital investment ($):215
City reshored to:San Marcos
State(s) reshored to:TX
If relevant, work nearshored to:-
Industry(ies):Nonmetallic Mineral Products, Primary Metal Products (not including Foundries and Castings)
Product(s) reshoredrare earth magnets
What non-domestic negative factors made offshoring less attractive?Supply chain interruption
What domestic positive factors made reshoring more attractive?Proximity to customers/market
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