5N Plus investing $10m in capacity, capability and growth sustainability

Engineered materials and specialty chemicals producer 5N Plus Inc of Montreal, Quebec, Canada has begun to execute a plan to invest over $10m in process technologies aimed at substantially increasing capacity of its existing assets while enhancing its capability along with providing environmental benefits in local communities. The investment package is expected to be focused on select sites in North America, Europe and China. The plan should be fully implemented by third-quarter 2020, with certain investments to be fully commissioned beforehand. The average payback for this tranche of investments is estimated at about three years.

5N Plus provides purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, and also produces related II-VI semiconducting compounds such as cadmium telluride (CdTe), cadmium sulphide (CdS) and indium antimonide (InSb) as precursors for the growth of crystals for solar, LED and eco-friendly materials applications.

As per its 5N21 strategic plan launched in 2016, the firm’s management has limited capital expenditure to $50m over 5 years, and this package of investments is part of this total sum. 5N21 has been designed to transform the firm and aims to significantly enhance its earnings.

“We are experiencing strong demand for a number of our products and, with select investments in process technology, we will markedly enhance productivity while increasing production throughput across our existing assets, with emphasis on sustainably and managing our leadership position in the industry and the communities we serve,” says Paul Tancell, executive VP of Eco-Friendly Materials.

“Through targeted investments, we will accentuate our leadership position in high-purity materials and will ensure optimal positioning to capture the growth opportunities foreseen in the markets of security, aerospace, sensing, imaging and renewable energy,” says Nicholas Audet, executive VP of Electronic Materials. “Upon implementation, we will increase production capacity, improve yields and will further reduce the environmental footprint of our activities.”

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Visit: www.5nplus.com