MONTREAL, Oct. 11, 2017 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) ("5N Plus" or the "Company"), a leading producer of specialty chemicals and engineered materials, today announced that its Electronic Materials segment has been awarded a multi-year program by the U.S. Government to supply engineered semiconductor materials essential for space and aeronautical missions. The award was granted following a comprehensive multi-party competitive process with emphasis on total value creation based on products and services rendered. The program is expected to commence in the second half of 2018.
In September 2016, the Company unveiled its strategic plan, 5N21, which is based on three key pillars, namely: a) extracting more value from existing global assets and capabilities, b) growing contributions from upstream activities and c) delivering quality growth from existing and new growth initiatives. This award is well aligned with the third objective which is designed to deliver quality growth based on technology intensive markets requiring tangible value addition.
Nicholas Audet, Executive Vice President, Electronic Materials, commented, "We are very pleased to be selected as a partner for this program by the U.S. Government. Aerospace is an important market for our future growth ambitions. Our teams in St. George, Utah and Montreal, Québec continue to make progress and are well positioned to provide our customers with solutions based on an array of engineered materials and compounds related to this segment".
Over the past several years, 5N Plus has made notable investments in the specialty semiconductor area through both organic and M&A activities. After the launch of the strategic plan, management declared these activities as integral to the Company's future growth and declared its intention to harvest past investments while continuing to selectively expand the Company's capabilities in this area.
About 5N Plus Inc.
5N Plus is the 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 six-month periods ended June 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]