Luxfer Holdings, England, and Neo Performance Materials Inc., Toronto, announce a definitive agreement under which Luxfer would acquire Neo Performance Materials for its rare-earth-metals-based functional materials. The transaction accelerates Luxfer’s strategy to become a leading global manufacturer of highly-engineered advanced materials for high-end applications.
Luxfer serves a broad range of manufacturing and process industries with highly engineered materials:
–High-purity zirconium compounds for catalytic processes
–Magnesium specialty alloys for lightweight, durable products and components
–Aluminum gas cylinders for specialty and reference gases
–Magnesium, copper, zinc, and brass plates and chemicals for high-quality etching and embossing
–Unique soluble magnesium products supporting maintenance operations on oil and gas rigs
–Magnesium chips, granules, and powders for commercial applications
“Neo’s Magnequench segment is an industry leader in rare-earth 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, Chief Executive Officer of Luxfer.
According to Geoff Bedford, Chief Executive Officer of Neo Performance 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 enable our businesses to reach the next level as an important part of a larger, more diversified company.”
Photo shows the SynerMag bioresorbable magnesium alloy developed by Magnesium Elektron, a business of Luxfer Holdings.
