Leaders in Rare Earth Magnets Invests to Expand Domestic Samarium Cobalt Magnet Manufacturing
Permag™ Invests to Expand Domestic Samarium Cobalt Magnet Manufacturing
LANCASTER, Pa., Aug. 22, 2025 /PRNewswire/ — Permag™, the only US-based producer of samarium cobalt (SmCo) magnets, announced an aggressive expansion of its magnetic manufacturing capacity to ensure a continued secure, robust, and resilient domestic supply chain of critical magnetics.
Permag™ is making a multi-million-dollar investment in its Electron Energy Corporation facility in Lancaster, PA to expand its magnetic manufacturing capacity.
The multi-million-dollar capital plan at Permag’s Electron Energy Corporation (“EEC“) manufacturing facility, located in Lancaster, PA, began several months ago and more than doubles its production capacity. The expansion includes state-of-the-art alloying, pressing, and fabrication equipment in order to support the growing demands of its customers directly and through the other Permag companies—Dexter Magnetic Technologies (Dexter) and Magnetic Component Engineering (MCE).
Following this initial expansion, EEC intends to further invest in additional SmCo production capacity to help meet growing demand.
“Critical industries around the world rely on a stable and secure supply of SmCo magnets, and we are in a unique position to meet the growing demand for this essential material and the magnet solutions produced from it,” said Joe Stupfel, CEO of Permag. “Our goal is to significantly increase the domestic production of SmCo magnets, supporting the priorities of the US, strengthening domestic supply chains, and meeting growing commercial demands. Permag is the only vertically integrated supplier of SmCo magnets and magnetic assemblies, and these investments further our ability to offer compelling solutions to our customers.”
Permag’s companies Dexter, EEC, and MCE have been leading suppliers, engineers, and manufacturers of high-end magnetic solutions for more than 70 years, serving aerospace/defense, semiconductor, medical, and industrial customers globally. Permag recently announced its plans to achieve DFARS 252.225-7052 compliance for neodymium-iron-boron (NdFeB) and SmCo magnets by mid-2026, well in advance of the January 1, 2027, deadline.