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
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
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
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 "Risk and Uncertainties" of 5N Plus' 2013 MD&A dated
February 25, 2014 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
therefrom. 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
SOURCE: 5N Plus Inc.
For further information:
Vice President, Legal Affairs and Corporate Secretary
5N Plus Inc.
(514) 856-0644 x6178