Posted in | Business

5N Plus Sign MOU for Long Term Supply Contract with Teck Metals

5N Plus Inc. ("5N") (TSX:VNP), a developer and producer of high-purity metals and compounds for electronic applications is pleased to announce that it has signed a memorandum of understanding ("MOU") for long-term supply of strategic metals 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 MOU, Teck intends to provide 5N with a stable source of minor metal feedstocks including indium, cadmium and germanium. The MOU also outlines the intention of 5N and Teck to cooperate in assessing future business opportunities to support the growth of 5N's recently-acquired subsidiary, Firebird Technologies Inc. of Trail, British Columbia. 5N and Teck have already entered into minor-metals supply agreements and expect to conclude additional agreements in the near future.

5N Plus President and Chief Executive Officer Jacques L'Écuyer stated, "Strengthening of our relationship with Teck will provide 5N Plus with a stable source of critical minor metals and enable us to address a number of new business opportunities aimed at supporting the growth in Trail, B.C. of our recently acquired subsidiary, Firebird Technologies Inc. We are delighted by this opportunity to establish an even closer working relationship with Teck, which will be a key component of our long term growth strategy which calls for both a broadening of our product portfolio and an increasing robustness in our supply chain. "

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    5N Plus. (2019, February 10). 5N Plus Sign MOU for Long Term Supply Contract with Teck Metals. AZoM. Retrieved on October 18, 2019 from https://www.azom.com/news.aspx?newsID=19920.

  • MLA

    5N Plus. "5N Plus Sign MOU for Long Term Supply Contract with Teck Metals". AZoM. 18 October 2019. <https://www.azom.com/news.aspx?newsID=19920>.

  • Chicago

    5N Plus. "5N Plus Sign MOU for Long Term Supply Contract with Teck Metals". AZoM. https://www.azom.com/news.aspx?newsID=19920. (accessed October 18, 2019).

  • Harvard

    5N Plus. 2019. 5N Plus Sign MOU for Long Term Supply Contract with Teck Metals. AZoM, viewed 18 October 2019, https://www.azom.com/news.aspx?newsID=19920.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit