In February 2026, Neo Magnequench, based in Narva, Estonia, shipped its one millionth sintered magnet, marking an early production milestone for the new facility.

Neo Magnequench is a producer of bonded neodymium-iron-boron (NdFeB) magnetic powders, magnets, and their applications.

The achievement follows the groundbreaking of the Narva plant in 2023 and the official opening of the facility in September 2025. Since then, the company states that the site has focused on ramping up production and establishing regular manufacturing operations.

According to the Neo, reaching this production volume in this timeframe reflects the coordinated efforts of the Narva team together with the wider Magnequench and Neo Performance Materials groups, as well as support from customers during the early stages of the plant’s operation.

The company acknowledged the contributions of employees at the Narva facility and across the wider MQ and Neo organisations in achieving the milestone.