Baotou-based Baotou Jinmeng Magnetic Materials Co has formed a complete manufacturing process for sintered NdFeB, according to a July 30 Baotou Daily report.

NdFeB is a third-generation rare earth permanent magnet material and is with the highest magnetic properties.

The company has applied for more than ten invention and practical patents. Its products include electronics, automotive parts, motors, and medical devices.

Established in 2008 with a registered capital of 50 million yuan ($7.25 million), Baotou Jinmeng Magnetic Materials Co is a subsidiary of Jinmeng Group. Located in the Baotou Rare Earth High-Tech Industrial Development Zone, the company mainly produces high performance sintered NdFeB magnetic materials to be used in aerospace, communications, automobiles, electroacoustic devices, and medical apparatus and instruments.

The company is currently expanding new markets and seeking more customers, particularly in Japan and Europe. In the future, the company is expected to continue expanding its market share in foreign markets.

Workers pick out magnet products in a workshop at the headquarters of Baotou Jinmeng Magnetic Materials Co, July 30. [Photo/Baotou Daily]