DOD Investment in Thomas & Skinner’s “Neo” Magnet Research

INDIANAPOLIS--(BUSINESS WIRE)--The Department of Defense (DOD) announced today that it will invest in a defense supply-chain assessment, to be performed by Thomas & Skinner, Inc., regarding the requirement for competitive domestic neodymium-iron-boron (“neo”) magnets or their substitutes to support defense supply-chain manufacturing capability. Neo magnets are essential elements in several military weapons components, including missile guidance systems, bomb fuses, and satellite communication devices, which are critical to U.S. national security.

“The Department’s investment into our research represents the ideal type of partnership in a first step toward re-establishing a competitive supply of domestically produced neo magnets.”

“China currently produces about 75% of the world’s neo magnets, not including other unlicensed production,” said Vern Detlef, President and CEO of Thomas & Skinner. “The Department’s investment into our research represents the ideal type of partnership in a first step toward re-establishing a competitive supply of domestically produced neo magnets.”

Thomas & Skinner, a world leader in the production of high performance magnetic materials, has extensive experience with the sintering process and is one of the few U.S. companies currently sintering non-neo permanent magnets.

About Thomas & Skinner

Thomas & Skinner is a small-business operating as an employee-owned corporation (ESOP). It has manufactured magnetic materials in Indiana since 1901 and performs all aspects of magnet production domestically. Thomas & Skinner is a leading manufacturer of cast and sintered alnico magnets, magnet assemblies, and transformer laminations. Its products are used by leading aerospace and defense companies as well as the heavy industry, medical, and oil exploration sectors.