MONTREAL, Nov. 3, 2015 /CNW Telbec/ - 5N Plus Inc. (TSX:VNP), the leading producer of specialty metal and chemical products, announces that Mr. Jacques L'Ecuyer has informed the Board of Directors of the Company of his desire to step aside from his current position of President and Chief Executive Officer. As a result, a process has been initiated during the last quarter by the board of directors of the Company to identify a new President and Chief Executive Officer to succeed to Mr. L'Ecuyer whom will remain as President and Chief Executive Officer until the new President and Chief Executive Officer has been appointed by the board of directors.
"The Board will be working closely with Mr. L'Ecuyer during this transition period and we are confident that we will be able to announce his successor in the coming weeks. Mr. L'Ecuyer will assist in the management transition with the same level of commitment and dedication as in the past 15 years", said Mr. Jean-Marie Bourassa, Chairman of the Board of 5N Plus.
"Throughout the years at the helm of 5N Plus, Jacques showed passion, determination and drive which has positioned the Company as the worldwide leading producer in specialty metal and chemical products. The Board wishes to express its gratitude for his enormous contribution to the Company's development and looks forward to continue to benefit from his extensive knowledge of the Company and the industry at the Board of Directors level", added Mr. Bourassa.
Mr. L'Ecuyer co-founded 5N Plus in 2000 and acted as its President and Chief Executive Officer since its inception. Under his direction, 5N Plus became a leading producer of specialty metal and chemical products with operations and sales offices in several locations in Europe, the Americas and Asia. During Mr. L'Ecuyer's fifteen years at the helm, 5N Plus' consolidated sales consistently increased to reach more than $500 million in 2014.
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' 2014 MD&A dated February 24, 2015 and notes 11 and 12 of the unaudited condensed interim consolidated financial statements for the three and nine-month periods ended September 30, 2015 and 2014, 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 and Corporate Secretary, 5N Plus Inc., (514) 856-0644 x6178, [email protected]