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Attention Business/Financial Editors
5N Plus Inc. and Teck Metals Ltd. enter into long-term supply agreements for germanium and indium feedstock
MONTREAL, March 9 /CNW Telbec/ - 5N Plus Inc. (TSX:VNP), a leading
producer and provider of high-purity metals and compounds for electronic
applications, is pleased to announce that its wholly-owned subsidiary Firebird
Technologies Inc. ("Firebird") has entered into long-term supply agreements
for germanium and indium feedstocks with Teck Metals Ltd. ("Teck"), a
wholly-owned subsidiary of Teck Resources Ltd. (TSX: TCK.A and TCK.B, NYSE:
TCK), a world-leading producer of base metals and minor metals.
Under the terms of these agreements, Teck will provide a long term stable
supply to Firebird of germanium and indium feedstocks which are to be further
processed by Firebird into value-added products.
5N Plus President and Chief Executive Officer Jacques L'Ecuyer said, "We
are pleased to report that these important agreements have been signed, which
follows the memorandum of understanding with Teck that we announced in
December 2009. Supply of these critical feedstocks will provide our subsidiary
Firebird with the required precursors for its value-added products, which are
to include semiconductor wafers, semi-finished optics and high-purity metals
and compounds. Teck is one of the most important producers of indium and
germanium worldwide and we expect the stability of Firebird's supply chain to
be viewed as a differentiating asset by our customers."
About 5N Plus Inc.
5N Plus draws its name from the purity of its products, 99.999% (five
nines or 5N) and more. 5N Plus, which has its head office in Montreal, Québec,
develops and produces high-purity metals and compounds for electronic
applications and provides its customers with recycling solutions. The Company
is an integrated producer with both primary and secondary refining
capabilities. 5N Plus focuses on specialty metals such as tellurium, cadmium
and selenium and on related compounds such as cadmium telluride and cadmium
sulphide. The Company's products are critical precursors in a number of
electronic applications, including the rapidly-expanding solar (thin-film
photovoltaic) market, for which 5N Plus is a major supplier of cadmium
telluride, and the radiation detector and thermoelectric markets.
Certain matters discussed in this release are forward-looking statements
that involve risks and uncertainties, and actual results may be different.
Forward-looking statements are based on the best estimate available to 5N Plus
at the time and involve known and unknown risks, uncertainties or 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.
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/For further information: Jacques L'Ecuyer, President and Chief Executive
Officer, 5N Plus Inc., (514) 856 0644, jacques.lecuyer@5nplus.com/
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