Daido to Triple China Rare Earth Magnet Output to Take on Rivals
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Japan’s Daido Electronics, the world’s fourth-largest rare-earth magnet maker, plans to triple output in China so it can boost international sales and gain ground on its three bigger domestic rivals.
The Nakatsugawa city-based unit of Daido Steel Co. is investing in its two Chinese factories to boost their output to 1,000 tons of neodymium magnets a year in two or three years, which may help double its global market share, Managing Director Takashi Kamihara said in an interview in Tokyo.