TORONTO, Feb. 28, 2025 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) announces that the Regional Court of Mannheim, Germany issued a judgement (the "Judgment") with respect to the damages proceedings related to European Patent #1435338 B1 ("EP'338") case.  As previously disclosed, in July 2022, Rhodia Opérations SAS ("Rhodia", now Solvay) initiated an action in the Regional Court of Mannheim against Neo Chemicals & Oxides (Europe) Ltd. ("Neo C&O Europe"), a wholly-owned subsidiary of the Company, and two of its employees, requesting damages due to the infringement of EP'338 in Germany.  The oral hearing of the proceedings took place in November 2024.  The Judgment provides that Neo C&O Europe is liable for damages in the amount of approximately €10.3 million plus procedural interest of approximately €1.3 million (as of current date).  The damages award is significantly lower than the amount originally claimed by Rhodia.  The Judgment may be appealed by both parties within one month and is therefore not yet final.  The damage award is less than the amount the Company has previously accrued in its financial statements and consequently, Neo does not expect the quantum of the Judgment to affect earnings in Q1 2025.  EP'338 has since expired and has no impact on the Company's current products and earning.  For a summary of the case, please see "Legal Proceedings and Regulatory Actions" in the Company's annual information form dated March 14, 2024 for the year ended December 31, 2023 and "Legal Contingencies" in the Company's MD&A for the period ended September 30, 2024.

PERTH, Western Australia, Feb. 21, 2025 /CNW/ - Hastings Technology Metals Ltd. ("Hastings") announced today that its subsidiary, HTM Investments (One) Pty. Ltd. (the "Selling Shareholder"), has entered into a share purchase agreement (the "Agreement") with Wyloo Consolidated Investments Pty. Ltd. ("Wyloo") and has sold a significant portion of its equity interest in the outstanding common shares ("Common Shares") of Neo Performance Materials Inc. ("Neo") (TSX: NEO) to Wyloo  (the "Transaction"). 

TORONTO, Feb. 21, 2025 /CNW/ - Neo Performance Materials Inc. ("Neo") (TSX: NEO) will report its fourth-quarter results for the period ended December 31, 2024, before the Toronto market opens on Tuesday, March 18, 2025.

Teleconference Call

Management will host a teleconference call on Tuesday, March 18, 2025, at 10:00 a.m. (Eastern Time) to discuss the fourth quarter 2024 results. 

TORONTO, Dec. 31, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) announced today that it has completed the sale of its equity ownership interest (the "Transaction") in Neo Rare Metals (Oklahoma), LLC ("Quapaw") to Kevin Reading, the current General Manager and co-founder of the facility (the "Purchaser").

The Purchaser acquired Neo's 80% equity interest in Quapaw for an aggregate cash purchase price equal to US$1.5 million. The Transaction also includes a seven-year agreement wherein Quapaw will purchase gallium from, and purchase and transfer gallium scrap to the Company's recycling facility in Peterborough, Ontario (see press release dated August 6, 2024).

TORONTO, Dec. 23, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo") (TSX: NEO) announced today that the closing of the sale of its (i) 86% equity interest in Jiangyin Jiahua Advanced Material Resources Co., Ltd. ("JAMR") to Shenghe Resources Holding Co., Ltd ("Shenghe") for approximately USD$25.6 million cash; and (ii) 100% of the equity in Zibo Jiahua Advanced Material Resources Co., Ltd. ("ZAMR") to Shenghe for approximately USD$4.1 million cash (collectively, the "Transactions") is now expected to occur in Q1 2025, as opposed to Q4 2024 as was anticipated at the time the Transactions were announced in August 2024.

TORONTO, Nov. 14, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo") (TSX: NEO) released its third quarter 2024 financial results. The financial statements and management's discussion and analysis ("MD&A") of these results can be viewed on Neo's website at www.neomaterials.com/investors/ and on SEDAR+ at www.sedarplus.ca.

Key Takeaways

1.

Increased Adjusted EBITDA(1): Neo reports strong financial results of $19.6 million of Adjusted EBITDA(1) for Q3 2024 and $43.7 million of Adjusted EBITDA(1) for the nine months ended September 30, 2024.  Year-over-year Adjusted EBITDA(1) increased for both Magnequench and Rare Metals by 23% and 30%, respectively.

2.

Construction Nearing Completion on European Sintered Magnet Facility: Neo's sintered magnet facility in Europe is on track, with construction completed on the core manufacturing building and all critical equipment ordered.  In August 2024, Neo secured a major contract with a European automotive supplier, covering 35% of the plant's peak capacity, with production slated for the second half of 2026.

3.

Credit Facility Secured for Sintered Magnets Facility in Europe: In November 2024, Neo secured a $50 million credit facility from Export Development Canada, with a five-year term to support final construction, equipment purchases and commissioning of the facility.

4.

Business Simplification through Divestment: In line with Neo's strategy to focus on high-margin, downstream business areas, Neo has announced it has entered into agreements to divest three facilities (two of which are in China), which are expected to generate over $30 million in aggregate cash proceeds, and to reduce earnings volatility and inventory.

5.

Grand Opening of Auto Catalyst Plant: In September 2024, Neo celebrated the opening of NAMCO, its new auto catalyst plant in Asia.  On-time and on-budget, the facility has requalified the majority of its product portfolio and is on track to finalize the remaining products in the coming months.

6.

Strategic Review Progressing: Neo's financial advisors are advancing the Special Committee-led strategic review process, and Neo continues to take steps to optimize its business, including the divestment of non-core assets and the improvement of operational performance.

7.

Growth Outlook: Neo increased its previous outlook for fiscal 2024, from $45-$50 million of Adjusted EBITDA(1), to $52-$55 million.

TORONTO, Nov. 4, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) is pleased to announce it has entered into a loan agreement ("Loan Agreement") with Export Development Canada ("EDC") for a term loan of up to US$50 million (the "Credit Facility") to finance the on-going construction of the sintered magnets facility in Narva, Estonia (the "Project").

TORONTO, Oct. 28, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) will report its third-quarter results for the period ended September 30, 2024, before the Toronto market opens on Thursday, November 14, 2024.  

Teleconference Call

Management will host a teleconference call on Thursday, November 14, 2024 at 10:00 a.m. (Eastern Time) to discuss the third quarter 2024 results.

TORONTO, Sept. 16, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) announced the official opening of its new Neo Jia Hua Advanced Materials (Zibo) Co., Ltd. ("NAMCO") facility, a world-class emissions control catalysts production plant in Zibo, China.

TORONTO, Aug. 20, 2024 /CNW/ - Neo Performance Materials Inc. ("Neo" or the "Company") (TSX: NEO) announced today that it has entered into agreements (the "Transactions") to sell (i) 86% equity interest in Jiangyin Jiahua Advanced Material Resources Co., Ltd. ("JAMR") to Shenghe Resources Holding Co., Ltd ("Shenghe") for approximately USD $25.6 million cash; and (ii) 100% of the equity in Zibo Jiahua Advanced Material Resources Co., Ltd. ("ZAMR") to Shenghe for approximately USD $4.1 million cash. JAMR sales proceeds represent a 10.7x multiple on average trailing five-year EBITDA for the facility. The ZAMR facility was valued using an asset-based approach, as the facility was closed in the second quarter of 2024.