Apr. 15, 2015, 7:34 AM
- Molycorp (NYSE:MCP) is soaring 49.2% premarket after it was chosen by Siemens (OTCPK:SIEGY) to supply rare earth materials over the next 10 years for incorporation into the latter's high-efficiency wind turbine generators.
- MCP will supply the rare earth materials to Shin-Etsu Chemical (OTCPK:SHECY), which will produce the rare earth magnets Siemens intends to utilize in its turbines.
The company supplies peerless high-tech materials in such fields as synthetic quartz, optical fiber preforms and semiconductor silicon. Shin-Etsu was first in the world to produce 300mm wafers commercially and is the world market leader in wafers of all sizes. Shin-Etsu Chemical has become the... More
Sector: Industrial Goods
Industry: Chemicals - Major Diversified
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