5N Plus Opens New Recycling Facility in Malaysia and Acquires 100% of Shenzhen Gallium Refining Facility
MONTREAL, Nov. 15, 2012 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) (the "Company"), the leading producer of specialty metal and chemical products, is pleased to announce that its new recycling Malaysian facility is now operational.
The facility which is located within the Kulim High Technology Park, one of Malaysia's highest profile industrial areas for technological firms, was completed under budget. Providing recycling services for solar cell manufacturers, the facility is expected to gradually increase its range of products and services to address broader requirements and capture opportunities in the South-Asian market.
The Company is also pleased to announce that it has acquired the remaining 50 percent ownership interest in the joint venture company MCP Metals (Shenzhen) Co., Ltd, a gallium refining facility located in Shenzhen, China.
"Expansion of our activities in Asia is part of our growth strategy as we expect to see increasing demand for our products in this part of the world. Our Shenzhen and new Malaysian facilities will be instrumental in allowing us to leverage this demand and the corresponding business opportunities," said Jacques L'Ecuyer, President and Chief Executive Officer of 5N Plus.
About 5N Plus Inc.
5N Plus is the leading producer of specialty metal and chemical products. Fully integrated with closed-loop recycling facilities, the Company is headquartered in Montreal, Québec, Canada and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia. 5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications. Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconductor wafers. Many of these are critical precursors and key enablers in markets such as solar, light-emitting diodes and eco-friendly materials.
Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to 5N Plus at this time and involve known and unknown risks, uncertainties and other factors that may cause 5N Plus' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting 5N Plus' business and activities appears under the heading "Risks and Uncertainties" in Management's Discussion and Analysis for the fiscal year ended December 31, 2011 available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that 5N Plus will derive there from. In particular, no assurance can be given as to the future financial performance of 5N Plus. The forward-looking information contained in this press release is made as of the date hereof and 5N Plus undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.
SOURCE: 5N PLUS INC.For further information:
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5N Plus Inc.
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