Neo Material Technologies processes rare earths, zirconium, and magnetic powders for use in fuel cells, automotive wiring, glass, cell phones, and other electronic products. Its rare earths division, which includes lanthanum and neodymium, accounts for most of the company's sales. Neo Materials operates processing plants in China and Thailand. Its products are distributed to 25 different countries, though China and North America account for most of the company's sales. Subsidiary Magnequench produces rare earth based Neo (Neodymium, Iron, and Boron) magnetic powders in China and sells them worldwide. Neo Materials produces neodymium, which is used by Magnequench to make Neo powders for bonded magnets.