Magnetics Business & Technology - May/June 2019 - 27

INDUSTRY NEWS

In operation, the separator utilizes permanent rare earth magnets
to induce eddy currents into metallic particles. The separator consists of an external drum, an internal permanent magnetic rotor,
a drive and a belt conveyor. The external drum shell of non-metallic composite material rotates at conventional belt conveyor
speed. The internal rare earth alternating polarity rotor turns at
much higher speed than the external shell. Through the induction
of eddy currents and the resulting repelling forces, the alternating
magnetic field selectively repels the non-ferrous metals and physically separates them from other materials with minimum product
loss.
For more info, see www.eriez.com.

Luxfer and Neo Performance Materials Deal
Canceled

powders used to manufacture magnets for performance micro motors and other critical applications, while the chemicals and oxides segment
complements Luxfer's own zirconium-based
chemicals business." stated Alok Maskara, CEO
of Luxfer, when the agreement was announced
in December.
Alok Maskara,
The transaction would have aided Luxfer's CEO of Luxfer
strategy to become a leading global manufacturer of highly-engineered advanced materials for high-end applications, said the company. The acquisition would have also expanded Luxfer's access to high-growth
Asian markets, diversifying its customer base and creating a more
direct path to procure raw materials.
Based in Manchester, UK, Luxfer is a producer of highly engineered materials with five business units focused on magnesium,
zirconium and other materials. The company posted revenues of
$441 million in 2017. Pictured above is Luxfer's specialty magnesium alloy.
According to Geoff Bedford, CEO of Neo
Performanc Materials, "The combination
of Luxfer and Neo creates a global leader
of highly-engineered advanced materials
which are critical to many of today's macro
global trends, including those promoting
energy efficiency and environmental
sustainability. This combination will en- Geoff Bedford,
able our businesses to reach the next CEO of Neo Performance
level as an important part of a larger, Materials
more diversified company."

Specialty magnesium alloy developed by Luxfer

Luxfer Holdings PLC, and Neo Performance Materials Inc have
announced that their agreement under which Luxfer would have
acquired the Canadian rare-earth and rare-metals leader for $612
million has been called off. No reason was given for the termination. Under the agreement Luxfer would have been a nearly $1 billion operator with a diverse portfolio of advanced materials serving
industrial, defense, emergency response, healthcare and automotive markets.
On March 11, one day after the deal termination was announced,
Neo reported solid financial results for 2018 with revenues rising
4.6% to $454 million and a $41 million profit for the year. A week
later, the company issued a statement that it was preparing for a
re-purchase plan of its stock. "Neo believes that its shares have
been trading in a price range which does not adequately reflect
the value of such shares in relation to the business of Neo and
its future business prospects. As a result, depending upon future
price movements and other factors, Neo believes that its outstanding Shares may represent an attractive investment to Neo," the
company said.

Neo's business is organized along three segments: Magnequench,
Chemicals & Oxides and Rare Metals. Neo is headquartered in
Toronto, Canada with corporate offices in Greenwood Village,
Colorado, and in Beijing, China. It operates globally with sales
and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, the UK, Canada, USA and
South Korea.
For more information, visit : www.luxfer.com

Blog Contributors Needed for 2019
Magnetics Business & Technology is looking for knowledgeable professionals in the magnetics industry who'd
like to contribute to our 2019 guest blog to be featured on
the website. Your blog will be featured in the month it's
published on the website.
For more info email scottw@webcomcommunications.com.

"Neo's magnequench segment is an industry leader in rare-earth

www.MagneticsMag.com

May/June 2019 * Magnetics Business & Technology

http://www.eriez.com. http://www.luxfer.com http://www.MagneticsMag.com

Magnetics Business & Technology - May/June 2019

Table of Contents for the Digital Edition of Magnetics Business & Technology - May/June 2019