Rare earth company Molycorp, Inc. (NYSE: MCP) announced today that one of the world's leading experts in the design and manufacture of permanent rare earth magnets, which are integral to advanced wind turbines, hybrid vehicles, defense systems and computers, is re-joining Molycorp to help direct the Company's re-establishment of magnet manufacturing business in the U.S.
“We are very fortunate to have Dr. Trout join our team and help to direct the launch and operation of our magnet manufacturing business”
Stan Trout, Ph.D., P.E., will join Molycorp as Director of Magnet Manufacturing on October 1, 2010. For the last ten years, Dr. Trout successfully ran Spontaneous Materials, a consultancy for the industry. He previously worked for Magnequench -- one of the last companies to make neodymium-iron-boron permanent rare earth magnets in the U.S. - as well as for Hitachi Magnetics, Crucible Magnetics, Recoma and Molycorp. Dr. Trout helped to pioneer the use of permanent rare earth magnets in early Magnetic Resonance Imaging (MRI) units as well as many other applications.
"We are very fortunate to have Dr. Trout join our team and help to direct the launch and operation of our magnet manufacturing business," said Mark Smith, Chief Executive Officer of Molycorp. "Dr. Trout is one of the few individuals in the United States who has the knowledge and practical experience necessary to lead our re-building of this manufacturing capacity in the U.S., which Molycorp is on track to accomplish in 2012."