Shin-Etsu Chemical Co Ltd plans building new rare earth magnet manufacturing plant

Shin-Etsu to build rare earth magnet facility in Vietnam

12:16 PM, 22nd April 2014
Shin-Etsu Chemical Co Ltd business news

TOKYO, JAPAN: Shin-Etsu Chemical Co Ltd has decided to establish a new rare earth magnet manufacturing plant in the Socialist Republic of Vietnam. The manufacturing capacity of the new plant will be 2,000 tonne per year and the investment amount is about ¥12 billion ($117 million). The construction work will start in October 2014.

The new plant will be built in two phases. The first-phase portion of the plant construction work is scheduled to be completed in September 2015 with a production capacity of 1,000 tonne per year and the second-phase portion to be completed in September 2016 with another 1,000 tonne per year of capacity.

The new rare earth magnet plant will be built on land next to this separation and refinement plant and it will receive the supply of raw materials from this plant. Then, the rare earth magnets that are produced at the new plant will be shipped to Shin-Etsu’s customers after being processed at the magnet machining plants that the company has established elsewhere in Southeast Asian countries.

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