MONTREAL, May 27, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the
leading producer of specialty metal and chemical products, announces
that it has entered into new supply agreements with First Solar, Inc.,
the world's leading thin-film solar module manufacturer, covering First
Solar's compound semiconductor needs until March 31st, 2019.
The Company has renewed its existing cadmium telluride (CdTe) supply
agreement and CdTe by-products recycling agreement with First Solar up
to March 31, 2019. In addition, a new supply agreement broadly covering
all of First Solar's other compound semiconductor needs up to March 31,
2019, has also been concluded.
Under the new agreements, First Solar has agreed to exclusively purchase
from 5N Plus all the CdTe required by First Solar on a worldwide basis
for the manufacturing of solar photovoltaic modules.
"We are very pleased to have extended our agreements with First Solar
until 2019, enabling us to bring our relationship with this important
customer to another level," said Jacques L'Ecuyer, President and Chief
Executive Officer of 5N Plus. "While we conceded competitive pricing,
we believe that this will be largely compensated over the course of the
next quarters by the increase of sales volume providing us with a solid
and predictable revenue stream for the next five years. First Solar
remains committed to reducing solar module cost and improving
efficiency, and we intend to be their preferred solution for doing so
through our close technical and commercial relationship. We strongly
believe that these new supply agreements will allow 5N Plus to benefit
from continued growth associated with First Solar's leading position in
the solar market."
"5N Plus has been and continues to be a critical supplier to First
Solar. These agreements support our plans to increase the
competiveness of CdTe based solar modules and are in line with our
corresponding roadmap aimed at achieving this," said Tymen de Jong,
Senior Vice President of Global Operations of First Solar, Inc.
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 and note 11 of the unaudited interim condensed
consolidated financial statements for the three-month periods ended
March 31, 2014 and 2013 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