Shin-Etsu to Build Plant in China to Manufacture Magnet Alloys for Rare Earth Magnets

Shin-Etsu Chemical says it has established a wholly owned subsidiary called Shin-Etsu Changting Technology Co. (Longyan, China) to manufacture magnet alloys, an intermediate material for rare earth magnets. The company will invest ¥1.5 billion ($18 million), and the plant will have a production capacity of 3,000 m.t./year. The plant, which will be located in the Longyan Rare Earth Industrial Park, is scheduled to begin operations in January 2013. Rare earth magnets are used in various applications such as hybrid cars, energy-saving air conditioners, and hard...

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