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CoTec Holdings ( (TSE:CTH) ) just unveiled an announcement.
HyProMag USA, a joint venture of CoTec Holdings, has finalized a lease for its rare-earth magnet recycling and manufacturing facility in Dallas-Fort Worth, Texas. This milestone supports the establishment of a sustainable supply chain for rare-earth magnets in the U.S., aiming to reduce reliance on overseas sources and create approximately 90-100 skilled jobs. The facility will utilize advanced technology to produce recycled magnets, with plans for further expansion and pre-processing facilities in Nevada and South Carolina.
More about CoTec Holdings
CoTec Holdings Corp. operates in the rare earth magnet recycling and manufacturing industry through its joint venture, HyProMag USA. The company focuses on developing a domestic, circular supply chain for rare-earth magnets, leveraging patented technology to recover and remanufacture these critical components from end-of-life products.
Average Trading Volume: 92,181
Technical Sentiment Signal: Buy
Current Market Cap: C$162.7M
See more insights into CTH stock on TipRanks’ Stock Analysis page.