The following is a translated article from Inner Mongolia baotou...

The following is a translated article from Inner Mongolia baotou steel rare-earth hi-tech company's website "company news" section.
Clearly states Siemens is a customer. Absolutely no mention of a partnership or JV. Whoever made the comments about Baotou and Siemens JV is obviously mistaken or purposely spreading disinformation.

Date: May 14, 2014

Baotou steel rare-earth high-performance magnetic material phase II project commissioning is almost complete.

The baotou steel rare earth will be an annual production capacity of 15,000 tons of quick-setting thin neodymium-Iron-Boron alloy and an annual output capacity of 5000 tons of neodymium-Iron-Boron magnets, becoming the world's largest production base of high performance ND-Fe-b magnetic materials research and development. In 2009, the establishment of the baotou steel rare-earth magnetic materials company, took over the Ministry of national projects supported by 15,000 tons of high performance ND-Fe-b magnetic material industry project, construction of the first phase project of the year went into production.

In 2011, the baotou steel rare-earth start the second-phase construction of the project. Companies located in the magnetic material developed and produced wind power, permanent magnet magnetic resonance imaging for high-end apparatus, motor vehicle and other neodymium-Iron-Boron magnets used in high-end, commercial production soon N54 industrialization of production of today's world highest performance of magnetic products. Due to the production of high performance, quality and stability of magnetic materials, company export earnings accounted for revenues of 40% in recent years, become the supplier of many well-known companies in the world, only magnets for Siemens companies earned more than 200 million Yuan, the production of bulk magnets for 3 consecutive years in Assembly in fancy cars such as BMW, Audi.

Magnets in magnetic materials company plant, told Xinhua, workshop production closer to the magnet for two consecutive months hundreds of tons, first phase of the project has been to achieve full capacity production, the second phase will be put into production at any time based on market demand. It is understood that the baotou steel rare-earth re functional materials and end-application products development goals set, in the "Twelve-Five" stage, achieved the world's first of five rare earth functional materials, rare earth function materials and applications of product sales revenue to total revenue more than 50%.

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