Supply chain investments, expanded samarium cobalt capacity, and sustainability support growth and reshoring initiatives in U.S., Europe, and Asia Pacific Regions.
Rochester, NY: Arnold Magnetic Technologies Corporation (“Arnold”), a subsidiary of Compass Diversified (NYSE: CODI) and leading global manufacturer of high-performance magnets and precision components, announces its readiness to meet growing demand as U.S. and European industries accelerate onshoring along with global reduction of dependence upon China. Over the past five years, Arnold has invested over $50 million for facility improvements, manufacturing technology upgrades, and capacity expansion to ensure customers continue to receive the outstanding service and exceptional quality they’ve come to expect from Arnold.
In parallel, the Company entered into a strategic agreement with supply chain partners to ensure a reliable source of supply for samarium raw material outside of China. This rare earth element is critical in manufacturing the world’s highest performing magnets designed to meet mission critical applications under the toughest of operating environments. Given the uncertainty as to the future of China’s severe rare earth element export controls, Arnold has secured continuity of supply for this raw material to ensure our customer’s continued growth.
Arnold is also excited to announce the commissioning of a new permanent magnets manufacturing facility in Thailand to reduce dependency upon China while maintaining commercially competitive cost efficiency, access to skilled labor, proximity to growing markets, and strong supply chain ecosystems. With this investment, Arnold is poised to more than double the output of samarium cobalt (SmCo) magnets and to remain the pre-eminent leader for the industry.
“Our investment strategy has significantly strengthened our manufacturing capabilities and expanded capacity, positioning Arnold to confidently meet the growing demand as more companies move to onshore their supply chains. We are ready and excited to pursue new business opportunities and continue delivering the quality and innovation our customers expect.” said Aaron Williams, Chief Commercial Officer of Arnold Magnetic Technologies.
About Arnold Magnetic Technologies
Based in Rochester, NY with an operating history of over 130 years, Arnold is a leading global manufacturer of engineered solutions for a wide range of specialty applications and end-markets, including aerospace and defense, general industrial, motorsport, oil and gas, medical, and energy. From its Technology Center and manufacturing facilities located in the United States, the United Kingdom, Switzerland, Thailand, and China, the company produces engineered magnetic assemblies in addition to high-performance permanent magnets, precision foil products, and highly loaded composites that are mission critical in motors, generators, sensors, and other systems and components. Based on its long-term relationships, the company has built a diverse and blue-chip customer base totaling more than 2,000 clients worldwide. For more information on Arnold, specifically the Precision Thin Metals division, visit https://www.precisionthinmetals.com.