Mar 10 2010
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'Écuyer 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."