On the morning of November 5, AHBG Rare Earth Permanent Magnetic Alloy Technology Co., Ltd., jointly funded by BGXT Rare Earth Technology Group and ANDD Magnetic Materials Technology Group, held a grand opening ceremony. The company will mainly produce NdFeB quick-setting thin strip alloy sheet products.
Attending the ceremony were Gan Yong, academician of the Chinese Academy of Engineering and vice president of the Chinese Academy of Engineering, Zhou Bingli, chairman of the BGXT Rare Earth Technology Group Corporation, Cui Ping, director of the Ningbo Institute of Materials, Chinese Academy of Sciences, and Zhang Zhong, chairman of the AHBG Rare Earth Permanent Magnetic Alloy Manufacturing Co., Ltd. Xiong Yongfei, Chairman of ANDD Magnetic Materials Technology Group, etc.
The establishment of a joint venture between BGXT and ANDD Magnetic Materials Technology Group is one of the measures taken by BGXT Rare Earth Technology Group to enlarge and strengthen the rare earth functional materials industry. It is also an important layout for BGXT to form a production capacity of 15,000 tons of NdFeB magnetic materials offsite. AHBG Rare Earth Magnetic Alloy Manufacturing Co., Ltd. will use BGXT rare earth raw material protection advantages and AHDD Magnetic Materials Technology Group's technology, equipment, market sales advantages and local abundant labor resources to build China's high-end rare earth permanent magnet material important manufacturers Product market competitiveness.
The establishment of AHBG Rare Earth Permanent Magnet Alloy Manufacturing Co., Ltd. will also further accelerate the R&D and industrialization of key rare earth application technologies and realize the optimal allocation of rare earth resources. The R&D, processing and production of rare earth permanent magnet alloy sheets carried out by the new company can radiate Anhui Province sintered NdFeB manufacturers, promote the adjustment of Anhui Province sintered NdFeB product structure and industrial technology upgrade, and can drive the preparation of raw materials and magnets. Development of upstream and downstream industries such as post-processing, rare earth permanent magnet motors, packaging, and transportation. The establishment of the new company builds the magnetic material industry chain, develops magnetic material downstream products and terminal products, and realizes the extension of the industrial value chain.