LANCASTER, PA — Permag™ has launched a major expansion of its Electron Energy Corporation (EEC) facility in Lancaster, more than doubling production capacity for specialized magnets used in critical industries. The multi-million-dollar investment adds advanced alloying, pressing, and fabrication equipment to strengthen the nation’s supply of samarium cobalt (SmCo) magnets, which are essential in defense, aerospace, semiconductor, and medical technologies.
The expansion is part of Permag’s broader effort to secure a robust domestic supply chain for magnetics at a time when global demand is climbing. EEC, already a key supplier in this field, plans additional investments to further increase SmCo production in the coming years.
“Critical industries around the world rely on a stable and secure supply of SmCo magnets, and we are in a unique position to meet the growing demand for this essential material,” said Joe Stupfel, CEO of Permag. “Our goal is to significantly increase the domestic production of SmCo magnets, supporting the priorities of the U.S., strengthening domestic supply chains, and meeting growing commercial demands.”
Permag is the only vertically integrated supplier of SmCo magnets and magnetic assemblies, meaning it controls every stage of the process from raw material to finished product. The company says this expansion enhances its ability to deliver reliable, high-performance solutions to customers through EEC, Dexter Magnetic Technologies, and Magnetic Component Engineering.
The move also aligns with federal priorities to reduce dependence on foreign sources for critical materials. Permag has announced plans to achieve compliance with defense sourcing requirements for both SmCo and neodymium-iron-boron (NdFeB) magnets by mid-2026 — well ahead of the January 2027 deadline.
With more than 70 years of expertise in magnetic engineering and manufacturing, Permag’s companies continue to play a central role in supplying high-end magnetics to industries worldwide. The Lancaster expansion signals both a local investment in jobs and infrastructure and a national step toward securing critical supply chains.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.