5N Plus Acquires 100% Interest in its Sylarus Subsidiary and Changes its Name to 5N Plus Semiconductors
MONTREAL, April 3, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of specialty metal and chemical products, is pleased to announce that it has acquired the remaining 33.33% percent ownership interest in its subsidiary Sylarus Technologies, LLC, located in St. George, Utah, and has changed its name to 5N Plus Semiconductors LLC.
5N Plus Semiconductors LLC is the sole U.S. domestic space‐qualified germanium substrate supplier to National Security Space (NSS) customers, and is one of only two National Defense Stockpile (NDS) qualified germanium substrate suppliers worldwide. Since its inception, 5N Plus Semiconductors has been awarded over US $10 million in contracts from the U.S. Government including a US $1.32 million contract by the Defense Logistics Agency (DLA) to upgrade a portion of the NDS high purity germanium metal inventory to unfinished germanium substrates for multifunction photovoltaic solar cells employed in NSS applications.
The DLA award was strategic in nature as 5N Plus Semiconductors LLC is now part of the U.S. NDS for strategic materials, with the potential for follow‐on business both as a strategic metal supplier and NDS inventory manager.
Mr. Jacques L'Ecuyer, President and Chief Executive Officer, said "We are pleased to have acquired the outstanding interest in Sylarus. Through this platform that we have renamed 5N Plus Semiconductors, we intend to grow our semiconductor substrate business."
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
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