Sinomag to expand wet-pressed ferrite magnet capacity in Vietnam

Anhui Sinomag Technology announced that its wholly-owned subsidiary, Sinomag Technology (Vietnam) Co., Ltd., plans to invest about RMB210 million (USD29.5 million) in a second-phase project to expand overseas permanent magnet capacity. The project will add annual production capacity of 10,000 tonnes of wet-pressed permanent ferrite arc magnets and 25,000 tonnes of pre-calcined ferrite materials, supporting capacity expansion and local raw material supply.

The Phase II project will be located in the Longjiang Industrial Park, Tan Lap 1 Commune, Tan Phuoc District, Tien Giang Province, Vietnam. Construction is scheduled to begin in September 2025 and proceed in two stages over a 36-month period.