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San Huan to inject $2.17M in Neorem

Posted: 15 Apr 2002 ?? ?Print Version ?Bookmark and Share

Keywords:Neorem Magnetic? rare-earth magnet?

Rare-earth magnet manufacturer San Huan Inc. has signed a letter of intent to acquire a 13 percent stake in Finland-based Neorem Magnetic Oy valued at $2.17 million.

Once the acquisition has been completed, San Huan will use the advanced technology and sales channels of Neorem to upgrade its products as well as expand its market share in Finland. The company will also guaranteed the continued supply of raw materials, which Neorem needs for the production of magnets.

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