ABB has finalized a long-term supply agreement with Noveon Magnetics, a Texas-based manufacturer of sintered rare earth magnets. Under the agreement, Noveon will provide neodymium iron boron (NdFeB) magnets for use in ABB’s industrial motors. The multi-million-dollar contract supports ABB’s manufacturing operations across North America, with initial shipments starting in August 2025.
“Delivering locally produced technology has always been a priority for us,” said Ryan Fitts, Executive Vice President of Operations at ABB. “Noveon’s U.S. production capabilities, consistent quality, and scalable output strengthen our supply chain and support our planned growth in sectors like data centers and HVACR systems.”
As part of the agreement, Noveon will begin monthly shipments in August 2025, gradually increasing output to meet all of ABB’s North American magnet requirements by the end of 2026. Production capacity is already secured to fulfill the contract. “We’re pleased to support ABB’s industrial motor programs, which are vital to critical systems across the economy,” said Scott Dunn, CEO of Noveon Magnetics. “This collaboration highlights how domestic manufacturing and strong supply planning can help global companies respond to supply chain challenges and rising demand.”
The partnership aligns with increased demand for industrial motors used in infrastructure such as cooling systems, water facilities, and building automation. With energy efficiency becoming a higher priority across North America, securing a stable source of U.S.-made magnets is essential to ABB’s long-term goals.
Noveon Magnetics produces high-performance rare earth magnets at its U.S.-based facility. Its EcoFlux™ technology enables efficient use of materials and incorporates recycled feedstock into the manufacturing process. Noveon’s magnets are used in applications such as electric vehicles, wind turbines, robotics, pumps, defense systems, and more.
ABB Motion is a global supplier of motors, drives, and motion control solutions. The company focuses on improving energy efficiency and performance across a wide range of industrial applications. ABB’s portfolio supports operations in over 100 countries, backed by more than 22,000 employees and over a century of experience in electrical powertrain systems.
