5N Plus Inc. ("5N") (TSX:VNP), a developer and producer of high-purity metals and compounds for electronic applications announced today that it has completed the acquisition of Firebird Technologies Inc. ("Firebird") a Canadian-controlled private company located in Trail, British Columbia.
Founded in 1991, Firebird is a leading manufacturer of compound semiconductor products and pure metals. Firebird's main products, which include indium antimonide wafers as well as antimony, indium and tin pure metals, are sold worldwide and used in a number of electronic and optical applications.
"This is a strategic acquisition for 5N that will enable us to broaden our product line into III-V metals including indium and address the semiconductor wafer business. Firebird brings significant expertise in crystal growth and the ability to further strengthen our position as the leading producer of high purity metals", said Jacques L'Ecuyer, President and Chief Executive Officer of 5N. "We are delighted by this acquisition and pleased to welcome all Firebird employees into our company".
Mr. L'Ecuyer added, "We plan on making additional investments in Trail, B.C., in the near future to expand Firebird's activities and leverage our strategic long term supply agreements for minor metals that we expect to enter into with Teck Metals Ltd. This includes indium and germanium feedstock in accordance with the memorandum of understanding with Teck Metals Ltd. which was signed and announced today".
"Becoming part of the 5N Plus group will provide us with greater technical, financial and marketing resources", said Don Freschi Firebird's Chief Executive Officer. "We are excited by the opportunity and look forward to working with the 5N Plus team".