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SHIN-ETSU CHEMICAL TO DOUBLE ITS PRODUCTION CAPACITY OF RARE EARTH MAGNETS IN VIETNAM

2018-01-11 17:18:40

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SHIN-ETSU CHEMICAL TO DOUBLE ITS PRODUCTION CAPACITY OF RARE EARTH MAGNETS IN VIETNAM

 

Aim is to further strengthen Shin-Etsu’s stable supply system to its rare earth magnets customers and assure that we will capture the expected large growth in demand for these magnets

 

Shin-Etsu Chemical Co., Ltd. (Head Office: Tokyo, President, Yasuhiko Saitoh) will double the production capacity of Shin-Etsu Magnetic Materials Vietnam Co., Ltd. (SMMV), its Group company located in Vietnam’s Hai Phong Province that manufactures rare earth magnets.

At present, SMMV’s rare earth magnet production capacity is 1,100 tons/year. As a result of the implementation of this production expansion, it will double its production capacity to 2,200 tons/year, In addition, at the same time, SMMV will achieve an integrated manufacturing system from rare earth raw materials’ separation and refinement to the pressing method and sintering process. The investment amount for this expansion project is expected to be \5 billion, and the completion of the construction is scheduled for the middle of 2018.

SMMV completed the construction of a rare earth magnet manufacturing plant in Vietnam in 2016 and started its operations. The expansion of its production capacity at this point in time represents the start-up of the implementation of the second-phase portion of the plant’s construction work, and the objective is to cope with the increasing demand for rare earth magnets, mainly for automobile applications.

This time, together with the expansion of the rare earth magnets production capacity at its Vietnam facilities, by establishing an integrated manufacturing system at SMMV, Shin-Etsu will be able to further strengthen its stable supply system to its worldwide customers.

The rare earth magnets manufactured at SMMV will be shipped to end-users after being processed at magnet machining processing plants that Shin-Etsu Chemical has established in other countries in Southeast Asia.

Rare earth magnets are used in a wide range of applications such as automobile applications starting with hybrid cars and electric cars, energy-saving air conditioners, and hard disk drives. Shin-Etsu Chemical will make its supply system to its customers around the world rock solid, and at the same time, we will proactively act to assure that we will capture the expected large growth in demand for these magnets, as we work to expand our rare earth magnets business.

 

For inquires about this matter, please contact:
Shin-Etsu Chemical Co., Ltd.
Public Relations Dept.
Tetsuya Koishikawa 
Tel: 03-3246-5091, or from outside Japan: 81-3-3246-5091
Fax: 03-3246-5096, or from outside Japan: 81-3-3246-5096
e-mail: sec-pr@shinetsu.jp
www.shinetsu.co.jp