MONTREAL, Dec. 1 /CNW Telbec/ - 5N Plus Inc. ("5N") (TSX:VNP), a developer and producer of high-purity metals and compounds for electronic applications announced today that it has completed the acquisition of Firebird Technologies Inc. ("Firebird") a Canadian-controlled private company located in Trail, British Columbia.
Founded in 1991, Firebird is a leading manufacturer of compound semiconductor products and pure metals. Firebird's main products, which include indium antimonide wafers as well as antimony, indium and tin pure metals, are sold worldwide and used in a number of electronic and optical applications.
"This is a strategic acquisition for 5N that will enable us to broaden our product line into III-V metals including indium and address the semiconductor wafer business. Firebird brings significant expertise in crystal growth and the ability to further strengthen our position as the leading producer of high purity metals", said Jacques L'Ecuyer, President and Chief Executive Officer of 5N. "We are delighted by this acquisition and pleased to welcome all Firebird employees into our company".
Mr. L'Ecuyer added, "We plan on making additional investments in Trail, B.C., in the near future to expand Firebird's activities and leverage our strategic long term supply agreements for minor metals that we expect to enter into with Teck Metals Ltd. This includes indium and germanium feedstock in accordance with the memorandum of understanding with Teck Metals Ltd. which was signed and announced today".
"Becoming part of the 5N Plus group will provide us with greater technical, financial and marketing resources", said Don Freschi Firebird's Chief Executive Officer. "We are excited by the opportunity and look forward to working with the 5N Plus team".
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