[SMM Flash News: ABB Selects Noveon Magnetics as Long-Term Supplier of US-Made Rare Earth Magnets] According to foreign media reports, US-based sintered rare earth magnet manufacturer Noveon Magnetics and global technology giant ABB have reached a long-term supply agreement. Under the agreement, Noveon will provide high-performance NdFeB magnets for ABB's industrial motor applications. Scott Dunn, CEO of Noveon Magnetics, expressed high anticipation for this collaboration. According to the agreement, Noveon will commence monthly product deliveries starting from August this year and plans to expand its supply scale by the end of 2026 to meet all magnet component demands for ABB's North American motor production facilities. This move fully safeguards the transaction's capacity and highlights ABB's firm confidence in Noveon's long-term capabilities and product quality. The establishment of this strategic partnership comes at a time when demand for industrial motors continues to grow. These motors are widely used in critical infrastructure such as cooling towers, water pumps, and building systems. As demand for efficient building technologies in North America becomes increasingly robust, ensuring a reliable domestic magnet supply for ABB will be a key factor in safeguarding its long-term performance and stability.