
Neo Opens New Advanced Materials Plant in China
Neo Performance Materials has opened a new emissions control catalysts production facility in China.
The Neo Jia Hua Advanced Materials (Zibo) Co., Ltd. (NAMCO) facility is located in Zibo, an industrial city located in the Shandong province in eastern China. The new manufacturing plant is a modernization and upgrade of the company’s previous catalyst plant in Zibo.
Emissions control catalysts are used in automobile catalytic converters that reduce harmful emissions. Neo recently held a grand opening ceremony for the plant.
“The relocation and modernization of NAMCO enables Neo to continue to service global automotive supply chains to meet more stringent emissions requirements across hybrid-vehicle and internal-combustion-engine platforms,” said Rahim Suleman, president and CEO of Toronto-based Neo.
“This investment enables NAMCO to meet increased customer demand and maintain Neo’s position as one of the top three global producers of rare-earth compounds for environmental and automotive emissions control catalysts. These innovative and advanced technologies play a crucial role in the clean energy transition, and we look forward to continued success in expanding our world-class product portfolio.”
The facility has started to receive customer approvals and is slated to become fully operational by year-end 2024 following final commissioning.
Neo said it had invested US$46.4 million in the project by mid-year 2024. The company reduced its initial project budget to US$70 million, achieving a $50-million servings, according to a Neo news release.
In addition to operating its Toronto headquarters, Neo has corporate offices in Greenwood Village, Colo.; Singapore; and Beijing, China. The company’s global platform includes 10 manufacturing facilities in Canada, China, the U.S., Germany, Estonia, Thailand and the United Kingdom, and one research and development centre in Singapore.
Photo: CNW Group/Neo
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