Below is a list of Alnico Magnets manufacturers from Bangor, Michigan. Alnico magnets are a type of permanent magnet that is manufactured from a specific magnetic alloy for the properties that it contains. The magnetic alloy, “alnico," is an acronym of aluminum, nickel and cobalt, the three main elements in this mid-grade permanent magnet. Some characteristics of alnico are that it is hard, brittle, has a low coercive force, excellent temperature stability, high residual induction and fairly high energies.