ABB has entered into a long-term supply agreement with Noveon Magnetics, an operational U.S. manufacturer of sintered rare earth magnets. The multi-million-dollar deal will support ABB’s North American manufacturing operations.
Under the agreement, Noveon will supply ABB with high-performance NdFeB magnets for use in industrial motor applications. Monthly deliveries will begin this month and scale up to supply all magnet parts used in ABB’s North American motor production facility by the end of 2026. Capacity for the deal is secured, underscoring ABB’s confidence in Noveon’s long-term capabilities and product quality.
“ABB has a long tradition of serving customers with locally manufactured technologies,” said Ryan Fitts, executive vice president of Operations at ABB. “Noveon’s U.S.-based manufacturing, proven quality and scalable capacity help make our supply chain more resilient and enable us to uphold our planned growth strategy in industries such as data centers and HVACR.”
Noveon’s proprietary EcoFlux magnets enable greater resource efficiency, the beneficial use of recycled materials, and the delivery of a superior high-performance product. Built on an innovative, vertically integrated manufacturing process, EcoFlux magnets can be tailored to meet a wide range of customer specifications. Noveon will supply ABB with EcoFlux magnets specially engineered to meet ABB’s high-temperature performance requirements, ensuring durability and efficiency.