Neo Opens Emission Control Catalyst Production Plant in Zibo, China with $46.4 Million Investment

Neo Performance Materials announces the official opening of its new Neo Jia Hua Advanced Materials (Zibo) Co., (NAMCO) plant, a world-class production facility for emissions control catalysts.

The new plant is a modernized upgrade of its original catalyst plant in Zibo, with expanded capacity, improved operational efficiency, and advanced processing technology.

Rahim Suleman, President and CEO of Neo, said: "The relocation and upgrade of Neo Jia Hua enables Neo to continue to serve the global automotive supply chain to meet the more stringent emissions requirements of hybrid vehicles and internal combustion engine platforms. This investment enables Neo Jia Hua to meet growing 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 vital role in the clean energy transition, and we look forward to continuing to successfully expand our world-class product portfolio."

Customer requalification is ongoing, and four of Neo Jia Hua's new top five customers have completed the product qualification process for some key product lines. While awaiting customer approval, Neo Jia Hua is completing final commissioning of its plant and expects to achieve full production capacity by the end of 2024.

As of June 2024, Neo has invested $46.4 million in the relocation, upgrade and modernization of Neo Jia Hua. The company has updated its initial project budget to $70 million, and expects the remaining investment to be completed in early 2025.