Three Industry Leaders in Rare Earth Magnets Join Forces Under New Name - Permag

ELK GROVE VILLAGE, Ill., June 26, 2025 /PRNewswire/ -- The parent company of Dexter Magnetic Technologies (DMT), Magnetic Component Engineering (MCE), and Electron Energy Corporation (EEC)—Magnetic Holdings, LLC—has been rebranded as Permag. The new name marks the next step in the company's evolution as the industry leader in high-performance magnetic solutions, leveraging the unique strengths and attributes of three independent companies. DMT, EEC, and MCE will continue to operate under their current names, providing new levels of synergy to deliver better value to customers and the overall market. 

Through the enhanced collaboration, the organization is singularly positioned to lead the world in the procurement, design, and manufacture of rare earth magnets. The unique abilities of the three companies provide unrivaled expertise, as well as integrated engineering and manufacturing benefits, to customers in the aerospace, defense, medical, and semiconductor industries, among others:

• Dexter Magnetic Technologies (DMT) – R&D, high-precision engineering and complex assemblies.
• Electron Energy Corporation (EEC) – The only North American-based producer of samarium-cobalt (SmCo) with impeccable material science expertise.
• Magnetic Component Engineering (MCE) – cutting-edge machining and manufacturing.

"Seamless collaboration among all three industry-leading companies under Permag continues our strategic vision for assembling an organization with unparalleled capabilities to provide magnetic products and services from raw material input through completed complex assemblies," said Joe Stupfel, president and CEO of Permag. "The Permag name establishes our company as the unquestioned leader in rare-earth, magnetic technologies."

Permag, the original name of Dexter Magnetic Technologies at its founding in the 1950s, builds upon the company's rich legacy of innovation in industrial magnets. For a combined 177 years, DMT, EEC, and MCE have been at the forefront of magnetic innovation, delivering precision-engineered solutions to critical vertical markets. The rebrand to Permag represents a natural progression, aligning the company's expertise, capabilities, and resources to better serve customers through new innovations, streamlined operations, and enhanced customer support worldwide.

While the name has changed, Permag remains dedicated to:

• World-class engineering expertise – decades of experience designing custom magnetic solutions.
• High-quality magnetic materials and assemblies – from rare earth magnet components to complex magnetic assemblies, the company's products power the most advanced technologies critical to the operations of companies in multiple markets around the globe.
• Unparalleled R&D and innovation – an unmatched ability to team up with customers to create product-specific solutions, as well as independently develop innovations that advance the entire industrial-magnet sector.
• Trusted legacy of excellence – continuing the commitment to quality, reliability, and performance that defines Dexter Magnetic Technologies, Electron Energy Corporation, and MCE Products.

About Permag
Permag is a global leader in high-performance magnetic solutions, providing cutting-edge materials, precision-engineered components, and the manufacture of advanced magnets and magnetic assemblies to industries where performance matters most. With a rich legacy built by DMT, EEC, and MCE, Permag is committed to driving innovation, delivering superior quality, and solving customers' toughest challenges.

For more information, visit www.permag.com or contact:

Gustavo Olano
Senior Director of Marketing
Permag
(978) 201-6910
[email protected]

SOURCE Permag