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Neo Performance Materials Inc., through its subsidiaries, manufactures rare earth- and rare metal-based functional materials in Canada and internationally. It operates through three segments: Magnequench, Chemicals & Oxides (C&O), and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets. Its powders are used in the production of bonded permanent magnets that are components in automotive, micro, and traction motors, as well as sensors and other applications. The C&O segment manufactures and distributes a range of light and heavy rare earth functional materials for use in auto catalyst, consumer electronic, petroleum refining, hybrid and electric vehicle, and wastewater treatment applications. The Rare Metals segment sources, produces, reclaims, refines, and markets high value metals and their compounds. Its products comprise high temperature metals consisting of tantalum, niobium, hafnium, and rhenium; and electronic metals, such as gallium and indium. This segment's products are used in superalloys for jet engines, medical imaging, wireless technologies, and LED lighting, as well as flat panel display, solar, steel additive, battery, and electronics applications. The company was founded in 1994 and is headquartered in Toronto, Canada.