MONTREAL, March 9 /CNW Telbec/ - 5N Plus Inc. (TSX:VNP), a leading producer and provider of high-purity metals and compounds for electronic applications, is pleased to announce that its wholly-owned subsidiary Firebird Technologies Inc. ("Firebird") has entered into long-term supply agreements for germanium and indium feedstocks with Teck Metals Ltd. ("Teck"), a wholly-owned subsidiary of Teck Resources Ltd. (TSX: TCK.A and TCK.B, NYSE: TCK), a world-leading producer of base metals and minor metals.
Under the terms of these agreements, Teck will provide a long term stable supply to Firebird of germanium and indium feedstocks which are to be further processed by Firebird into value-added products.
5N Plus President and Chief Executive Officer Jacques L'Écuyer said, "We are pleased to report that these important agreements have been signed, which follows the memorandum of understanding with Teck that we announced in December 2009. Supply of these critical feedstocks will provide our subsidiary Firebird with the required precursors for its value-added products, which are to include semiconductor wafers, semi-finished optics and high-purity metals and compounds. Teck is one of the most important producers of indium and germanium worldwide and we expect the stability of Firebird's supply chain to be viewed as a differentiating asset by our customers."
About 5N Plus Inc.
5N Plus draws its name from the purity of its products, 99.999% (five nines or 5N) and more. 5N Plus, which has its head office in Montreal, Québec, develops and produces high-purity metals and compounds for electronic applications and provides its customers with recycling solutions. The Company is an integrated producer with both primary and secondary refining capabilities. 5N Plus focuses on specialty metals such as tellurium, cadmium and selenium and on related compounds such as cadmium telluride and cadmium sulphide. The Company's products are critical precursors in a number of electronic applications, including the rapidly-expanding solar (thin-film photovoltaic) market, for which 5N Plus is a major supplier of cadmium telluride, and the radiation detector and thermoelectric markets.
Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Forward-looking statements are based on the best estimate available to 5N Plus at the time and involve known and unknown risks, uncertainties or 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.
SOURCE 5N Plus Inc.
For further information: For further information: Jacques L'Écuyer, President and Chief Executive Officer, 5N Plus Inc., (514) 856 0644, firstname.lastname@example.org