25th ANNIVERSARY OF NEOREM MAGNETS OY
The plans of producing NdFeB- magnets in Finland began after a desk study in 1985, followed by a few years of research at Helsinki Technical University and Massachusetts Institute of Technology by our founding CEO Dr. Mauri Veistinen.
Outokumpu Magnets was established in 1988 and a license agreement with the Japanese company Sumitomo Special Metals (later acquired by Hitachi Metals) was signed in 1991. Magnet production developed in close cooperation with key customer projects and after a successful pilot phase it was time to move into new facilities. The next chapter to come was under a new name and a new factory driven and operated by the same passioned people who had started this journey 10 years earlier.
25 years ago, in December 1995 Neorem Magnets Oy was founded
Looking back at this quarter of a century, it becomes obvious that the basic vision of our company has not changed. We are always dedicated to developing and optimizing our production process in close cooperation with our customers. This has led our path through several exiting ventures involving some ground-braking products in several industry sectors. Leading manufacturers of special motors, servo motors, linear motors, generators, premium audio applications and scientific equipment have valued our service and flexible manufacturing approach over decades.
We were closely involved in the development of a compact and innovative elevator motor which has since evolved to a complete product family for our customer KONE. Since 2010 Neorem Magnets has received the KONE Gold Status- supplier award more often than any other global strategic supplier. One criterion for this has been our delivery performance where we have successfully supplied on-time deliveries for 3,5 hr delivery windows.
The revolution of mobile phones, led by one of our key customers of that time, steered us towards the initiative to establish a daughter company in China. Established in 2004, Neorem Magnets Ningbo enabled us to produce massive volumes of very small magnets for a period of many years. Currently our Ningbo branch is being replaced by a selected network of long-term Chinese partner companies.
During the strong growth period in the global wind energy sector, our company was actively involved in the development of generators for wind turbines. We proudly acknowledge our responsibility in terms of environmental sustainability and therefore, among many other initiatives, our magnet production runs with wind power.
In 2007 Neorem Magnets allied with leading European NdFeB- magnet manufacturer Vacuumschmelze. Being part of the VAC- group has given us access to significant recourses in production, research as well as to new market opportunities.
Today we continue to serve our long year customers and we have also had the honour to be involved in some of the most technically demanding magnet assembly projects to date. Neorem Magnets´ most important asset has always been our high standard of a proactive service attitude which according to our customer feedback is unique.
Our recent, current and future investments will further strengthen our position in the field of high tech- magnets, always following our vision from 25 years ago which is to achieve maximum benefit to our customers.