MONTREAL, Dec. 1 /CNW Telbec/ - 5N Plus Inc. ("5N") (TSX:VNP), a developer and producer of high-purity metals and compounds for electronic applications is pleased to announce that it has signed a memorandum of understanding ("MOU") for long-term supply of strategic metals 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 MOU, Teck intends to provide 5N with a stable source of minor metal feedstocks including indium, cadmium and germanium. The MOU also outlines the intention of 5N and Teck to cooperate in assessing future business opportunities to support the growth of 5N's recently-acquired subsidiary, Firebird Technologies Inc. of Trail, British Columbia. 5N and Teck have already entered into minor-metals supply agreements and expect to conclude additional agreements in the near future.
5N Plus President and Chief Executive Officer Jacques L'Écuyer stated, "Strengthening of our relationship with Teck will provide 5N Plus with a stable source of critical minor metals and enable us to address a number of new business opportunities aimed at supporting the growth in Trail, B.C. of our recently acquired subsidiary, Firebird Technologies Inc. We are delighted by this opportunity to establish an even closer working relationship with Teck, which will be a key component of our long term growth strategy which calls for both a broadening of our product portfolio and an increasing robustness in our supply chain."
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