Neo Performance Materials Inc (TSE:NEO) has released an update.
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Neo Performance Materials Inc has sold its majority stake in two Chinese rare earth separation assets to Shenghe Resources Holding Co., Ltd for a total of $30 million, while retaining exclusive international distribution rights for certain products. The deal with Shenghe, a leader in the rare earth industry, signifies a strategic transition for Neo’s business in China, aiming to leverage Shenghe’s scale and global platform for future growth.
For further insights into TSE:NEO stock, check out TipRanks’ Stock Analysis page.
