5N Plus secures multi-year supply contracts and services within the renewable energy sector
5N Plus President and Chief Executive Officer Jacques L'Écuyer — Photo courtesy 5N Plus Inc.
5N Plus Inc. (TSX: VNP) ("5N Plus" or the "Company"), a leading producer of engineered materials, announced that it has secured a series of multi-year contracts for the supply of semiconductor materials and ancillary services associated with the manufacturing of thin film photovoltaic (PV) modules by First Solar, Inc. Given the Company's current participation and leadership in this sector, these new contracts are not expected to require additional investments by 5N Plus. The terms of these contracts will be in effect until early 2021 and will rely on the global asset-base and capabilities of 5N Plus across Asia, Europe and North America. Since 2007, 5N Plus has been a key supplier of semiconductor compounds and related services to First Solar, Inc. and over this period several long-term contracts have been signed and successfully executed between the two companies.
Nicholas Audet, Executive Vice President – Electronic Materials, commented "We are very pleased to continue to foster what is undoubtedly a time-tested mutually rewarding partnership between 5N Plus and First Solar." Mr. Audet added "In 2016, our management unveiled its strategic plan 5N21, which included continued leadership in the Renewable Energy sector among the list of targeted achievements. The conclusion of these agreements is clearly an enabling step toward that ambition." Mr. Audet concluded "The specialty semiconductor market is a natural growth space for the future development of 5N Plus with the segment Electronic Materials' range of advanced semiconductor products ideally positioned to enable our customers across a spectrum of applications to competitively serve their end markets."
About 5N Plus Inc.
5N Plus is a leading producer of 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 pharmaceutical, healthcare, renewable energy, aerospace, security and sensing, imaging, technical and industrial materials, extractive and catalytic materials, and animal feed additive industries.
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