08:44 AM EDT, 09/16/2024 (MT Newswires) -- Neo Performance Materials ( NOPMF ) said Monday that it officially opened an environmental emissions control catalysts production facility in China named Neo Jia Hua Advanced Materials (NAMCO).

Neo said the new facility is more modern than its prior catalyst plant in the area, with expanded capacity, improved operating efficiencies and advanced processing technology.

"The relocation and modernization of NAMCO enables Neo to continue to service global automotive supply chains to meet more stringent emissions requirements across hybrid vehicle and internal combustion engine platforms," Neo President and CEO Rahim Suleman said. "This investment enables NAMCO to meet increased customer demand and maintain Neo's position as one of the top three global producers of rare earth compounds for environmental and automotive emissions control catalysts."

Neo said it has invested US$46.4 million in the relocation of the plant, which is expected to achieve full production capacity by the end of the year.