Neo Material Technologies Inc. (NEM) is a producer, processor and developer of neodymium-iron-boron magnetic powders (Neo Powders), rare earths and zirconium based engineered materials and applications, and other rare metals and their compounds. The Company operates in two segments: Magnequench and Performance Materials business divisions. Magnequench's Neo powder is utilized in bonded magnets for electronic applications, primarily micro-motors for products such as hard disk drive (HDDs), optical disk drive (ODDs) and for automotive motors and sensors. The Company�s Performance Materials division (Performance Materials) manufactures a product line of oxides and salts of rare earth elements. On August 29, 2011, the Company, through its entity, Gallium Holdings, LLC (Gallium Holdings), acquired an 80% interest in Gallium Compounds, LLC (Gallium Compounds). In June 2012, Molycorp Inc acquired NEM.