MONTREAL, Dec. 7, 2017 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) ("5N Plus" or the "Company"), a leading producer of specialty chemicals and engineered materials, today announced its entry into the animal feed minerals market. This sector represents an estimated market size of over $5 billion by 2022 and boasts a compound annual growth rate (CAGR) of 6.5% supported by demand for higher quality and purity feed material exacerbated by depletion of essential minerals and metals in the soil and by a growing demand for higher quality meat products globally. 5N Plus will manufacture a range of products to address the specific needs associated with this sector, focusing initially on the production and development of animal feed containing trace elements essential for good health and nutrition of animals, a sub-segment of the feed minerals market worth in excess of $100 million annually. The Company's leading position in the production of ultra-high purity materials, active pharmaceutical ingredients; both for humans and animals, uniquely positions 5N Plus to address the stringent requirements associated with the feed industry. The Company's investments will be in multiple phases with the initial tranche aimed at establishing capacity and capability in Europe and is slated for completion within 12 months, with qualification samples available in Q4 2018 and volume production shortly thereafter.
Mr. Paul Tancell, Executive Vice President, Eco-Friendly Materials, commented "Exceptional quality and consistency in conjunction with outstanding customer service are the key value drivers of the feed market. Given our organizational DNA and proven track record in adjacent industries, we deem our entry into the specialized feed additives market as a natural next step and well aligned with our 5N21 strategic plan designed to deliver quality growth of earnings based on specialty products requiring significant value-added activities." Mr. Tancell added "Our new production facility is designed to be a state-of-the-art manufacturing plant capable of producing enabling materials with tightest tolerances required by the industry and providing greater safety and reliability to our customers in the feed industry. Some of these materials will contain trace amounts of minor metals designed to fulfill a critical role within healthy animal diet." Mr. Tancell concluded "We are delighted to have teamed up with JADIS ADDITIVA who have a wealth of knowledge and experience in this field and will be our distributors in Europe".
About 5N Plus Inc.
5N Plus is a leading producer of specialty chemicals and engineered materials. 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' 2016 MD&A dated February 21, 2017 and notes 11 and 12 of the unaudited condensed interim consolidated financial statements for the three and nine-month periods ended September 30, 2017 and 2016, 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 statements.
SOURCE 5N Plus Inc.
For further information: Jean Mayer, Vice President, Legal Affairs, also in charge of investor relations, 5N Plus Inc., (514) 856-0644 x6178, [email protected]