Neorem Magnets (VAC)

Sintered NdFeB magnets and magnet pole elements, under a license originating with Sumitomo Special Metals. The plant is oriented to large magnets, difficult shapes and magnet assemblies rather than high-volume small parts. Grade families are the NEOREM 500, 700 and 800 series, and the company states it has developed grades with low heavy rare earth content. End markets include large motors and generators, especially wind, elevator motors, servo and linear motors, and scientific instruments.

At a glance

Founded: 1995 — Operations date to December 1995, when staff led by Dr. Mauri Veistinen continued NdFeB production at Ulvila after Outokumpu left the magnet business. The legal entity is older: registered 18 October 1989 and renamed Neorem Magnets Oy on 20 December 1995. The predecessor Outokumpu Magnets was established in 1988 and made Finland's first sintered NdFeB magnets at a pilot plant in 1989, under a Sumitomo Special Metals license signed in 1991.
Headquarters: Ulvila, Satakunta, Finland
Ownership: Wholly owned subsidiary of Vacuumschmelze (VAC) of Hanau, Germany. VAC signed the share purchase contract on 1 June 2007 and the German Federal Cartel Office cleared the combination after a Phase II review reported that September. VAC itself has been owned by Ara Partners since October 2023.
Stage: Mature. A sintered NdFeB specialist in large magnets, operating in Ulvila for about 30 years.
Listing: Private.
Revenue: EUR 16.49 million
Reported, financial year 2025.
From the company's annual accounts filed with the Finnish Patent and Registration Office, as republished by two independent Finnish credit bureaus that agree to the euro. Prior years: EUR 16.79 million in 2024, EUR 16.11 million in 2023, EUR 22.91 million in 2022. Operating profit EUR 1.95 million in 2025; 59 employees, up from 51 in 2021.
Source

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

What	Figure	Status	As of
Sintered NdFeB magnets and magnet pole elements, Ulvila plant	500 tons of permanent magnets, as stated by Energy Fuels' 8-K of October 2026 — the acquirer's figure, with no annual qualifier; Neorem does not publish one	Operating	Oct 2026
EU-wide sintered NdFeB capacity, all producers combined — context, not Neorem's own	approximately 1,000 t/yr, described as not fully utilized and serving specialized niche applications	Operating	Jul 2021

Narrative

Neorem Magnets makes sintered NdFeB permanent magnets at Ulvila in western Finland. Its lineage runs through Outokumpu Magnets, established in 1988, which made Finland's first sintered NdFeB magnets at a pilot plant in 1989 and took a Sumitomo Special Metals license in 1991; when Outokumpu left the business, staff led by Dr. Mauri Veistinen continued it under the Neorem name from December 1995. Vacuumschmelze signed a contract to buy the shares on 1 June 2007 and German merger control cleared the combination after a Phase II review that September. Output goes mainly into magnet pole elements for large motors and generators, including elevator drives and wind generators. It filed revenue of EUR 16.49 million for 2025 with 59 employees.

Where public sources disagree

Founding year depends on the anchor. The company gives December 1995; the Finnish Trade Register shows the entity registered in 1989 under an Outokumpu name and renamed on 20 December 1995. Aggregators that say 1990 are reading the old name's registration date.
The only plant-level capacity figure is the acquirer's: Energy Fuels' 8-K of 13 October 2026 lists Ulvila at "Permanent Magnets: 500 tons", with no annual qualifier, and neither Neorem nor VAC has restated it. On its own it is half of the roughly 1,000 t/yr EU-wide aggregate in the 2021 European Raw Materials Alliance report, which covers several producers; no source reconciles the two.
Ulvila's revenue does not reconcile across sources. The same 8-K attributes about 3.3% of VAC's 2025 revenue of EUR 325.1 million to the Ulvila facility, roughly EUR 10.7 million, while Neorem Magnets Oy's own filed accounts report EUR 16.49 million for 2025. Intercompany eliminations or a different definition of the facility could explain it; no source says.
Counts of surviving EU sintered magnet producers do not agree. A 2021 European Raw Materials Alliance report calls VAC with Neorem the only major survivor in Europe; a 2022 CEPS analysis lists a different set. Both predate Neo Performance Materials bringing its Estonian plant into production.
No EU grant, Critical Raw Materials Act strategic project or Horizon Europe participation was found under the Neorem name, and its own news feed has carried three items since October 2023.

Fact checks from the digest

Claims made about this company that the weekly digest has put against this atlas, newest first. The verdict and the working are here in full; the issue each came from is for subscribers.

it does not stand · Digest issue 004 · 14 September 2026

Narva ships its first commercial magnets, a year after the ribbon was cut

Worth being precise about who claimed what. Neo did not say this was Europe’s first commercial NdFeB — its release says it has advanced to commercial production at its European magnet facility. The framing that traveled is the one that fails.
Europe has made sintered neodymium magnets for decades, and both producers are on our own chart. Neorem has been at Ulvila since 1988. Vacuumschmelze has run sintered magnets at Hanau since 1973 — nine years before NdFeB was invented, so that line began on samarium cobalt and came to neodymium later. Ulvila is the date that bears on this claim, and it is thirty-eight years old. What is true, and better, is the denominator: EU-wide sintered NdFeB across every producer combined has been put at roughly 1,000 metric tons a year and described as not fully utilized. Narva at nameplate roughly triples it.

Sources

A vital magnet company — company profile — Neorem Magnets Oy (accessed 2026-09-18)
Neorem Magnets, 30 years of customer service that attracts — Neorem Magnets Oy (2025-11-11)
Finnish Trade Register open data, Business ID 0807542-9 — Patentti- ja rekisterihallitus (Finnish Patent and Registration Office) (accessed 2026-09-18)
Filed accounts — turnover, operating profit and headcount 2021 to 2025 (Finnish) — Suomen Asiakastieto Oy (accessed 2026-09-18)
VACUUMSCHMELZE signs contract to acquire the shares in Neorem Magnets Oy (German) — VACUUMSCHMELZE via openPR (2007-06)
Rare Earth Magnets and Motors: A European Call for Action — European Raw Materials Alliance / EIT RawMaterials (2021-07-13)
Form 8-K: first amendment to the VAC merger agreement, and VAC's business and capacity — Energy Fuels Inc. (SEC) (2026-10-13)
Exhibit 99.1: audited consolidated financial statements, FY2025 and FY2024 — Energy Fuels Inc. (SEC) (2026-10-13)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

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