ABB has entered into a long-term supply agreement with Noveon Magnetics, an operational U.S. manufacturer of sintered rare earth magnets. Under the terms if the agreement, Noveon will supply ABB with high-performance NdFeB magnets for use in industrial motor applications. The multi-million-dollar deal will support ABB’s North American manufacturing operations, with a ramp-up in deliveries beginning August 2025.
Under the agreement, Noveon will begin monthly deliveries in August 2025 and expand to supply all magnet parts used in ABB’s North American motor production facility by the end of 2026. Capacity for the deal has been secured to support ABB’s production requirements.
This partnership aligns with increasing demand for industrial motors used in infrastructure such as cooling towers, water pumps, and building systems. With the rising adoption of efficient building technologies across North America, ABB’s access to a stable domestic magnet supply supports consistent performance and reliability.
Noveon’s magnets provide a stable supply chain for applications including EVs, wind turbines, robotics, motors, pumps, and defense systems, supporting energy efficiency and electrification.
ABB, a global leader in electrification and automation, uses engineering and digital expertise to help industries improve efficiency, productivity, and sustainability.
For more information, visit abb.com.
Filed Under: AUTOMATION
