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Greenwood Village-based Molycorp has acquired rare-earth-alloy and metal producer Santoku America for $17.5 million in cash.
Santoku America, based in Tolleson, Ariz., was a subsidiary of Japanese company Santoku.
Molycorp said the acquisition would allow it to immediately begin manufacturing and selling rare-earth alloys for use in magnets found in electric and hybrid cars, advanced wind turbines, high-tech electronics and other applications, without depending on rare-earth metals from China.
