Investment deploys new process technologies and supply chain optimization to lower unit cost of production, reduce
All amounts expressed in
Alignment between investment and strategy
For over 20 years, 5N Plus has developed ultra-high purity compounds based on the family of II-VI specialty semiconductor materials at 5N Plus Montreal. With this investment, 5N Plus will expand the capacity of its
"Today's announcement is an exciting glimpse into the compelling future of our business. Following the project's completion, 5N Plus will have the capacity to competitively produce over half of the world's high purity tellurium-bearing II-VI semiconductor compounds, which are essential elements for several critical industries including renewable energy," said
As a leading global supplier of critical materials for specialty semiconductor devices, the Company continues to accelerate its semiconductor activities across its sites in
Strategic alignment with AZUR acquisition
While the Company has organically expanded its II-VI semiconductor value-chain, its III-V semiconductor value-chain has required a combination of organic growth initiatives and strategic investments. The recent announcement of the Company's intent to acquire AZUR SPACE Solar Power GmbH ("AZUR") is a significant development supporting its strategic transformation. Given AZUR's established business within III-V semiconductor materials, the acquisition, along with 5N Plus's complimentary activities in this space, will expand the combined companies' value-chain and serve as a substantial catalyst for growth. The synergies of AZUR and 5N Plus will further result in a higher total addressable market beyond the expanded space market, allowing the Company to enter markets such as energy efficiency, electrification, advanced communication and wireless charging.
"The continued investment in our II-VI and III-V family of specialty semiconductor materials reflects 5N Plus's aim to be the leading global supplier of these critical materials to the growing markets of the future," said
Investment in sustainability and reliability backed by sound financial rationale
The new process technologies facilitated by the
About 5N Plus Inc.
5N Plus is a leading global producer of specialty semiconductors and performance materials. The Company's ultra-pure materials often form the core element of its customer products. These customers rely on 5N Plus's products to enable performance and sustainability in their own products. 5N Plus deploys a range of proprietary and proven technologies to develop and manufacture its products. The Company's products enable various applications in a number of key industries including renewable energy, security, space, pharmaceutical, medical imaging, and industrial and additive manufacturing. Headquartered in
Forward–Looking Statements and Disclaimer
Certain statements in this press release may be forward–looking within the meaning of applicable securities laws. Forward–looking information and statements are based on the best estimates available to the Company at the time and involve known and unknown risks, uncertainties or other factors that may cause the Company's 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 the Company's business and activities appears under the heading "Risk and Uncertainties" of the 5N Plus 2020 MD&A dated
Forward–looking statements can generally be identified by the use of terms such as "may", "should", "would", "believe", "expect", the negative of these terms, variations of them or any similar terms. 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 the Company has 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.
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