Neo Performance Divests Oklahoma Rare Metals Facility

Neo Performance Materials Inc (TSE:NEO) has released an update.

Neo Performance Materials Inc. has agreed to sell its 80% stake in the Quapaw, Oklahoma rare metals facility to the facility’s co-founder and current General Manager, Kevin Reading, for $1.4 million plus adjustments, aiming to streamline its global operations. The deal also includes a five-year supply and processing agreement between the two entities, signaling ongoing collaboration post-sale.

For further insights into TSE:NEO stock, check out TipRanks’ Stock Analysis page.