5N Plus Announces Planned Organizational Change
5N Plus Announces Planned Organizational Change
MONTREAL, June 30, 2021
MONTREAL , June 30, 2021 /CNW Telbec/ - 5N Plus Inc. ("5N Plus" or the "Company") (TSX:VNP.TO), a leading global producer of specialty semiconductors and performance materials, today announced the planned departure of Nicholas Audet , Executive Vice President of Electronic Materials, effective in Q3 2021, to pursue other interests unrelated to the Company and its scope of business. Mr. Audet joined 5N Plus in 2003 and ascended through organizational ranks, having assumed various roles with expanded scope of responsibility.
"I would like to extend my gratitude to Nicholas for his contributions and dedicated service to 5N Plus over the past two decades," said Arjang Roshan , President and Chief Executive Officer of 5N Plus. "After senior management changes in 2016, our Company launched 5N21, a turn-around plan designed to substantially reduce earnings' volatility, expand margins and strengthen the Company's balance sheet. As a member of our Executive Committee, Nick's role has been instrumental in implementing and realizing the benefits of this plan."
Earlier this year, 5N Plus unveiled its intent to transform the Company by substantially growing its businesses in specialty semiconductors and performance materials while harvesting legacy businesses and those with higher commodity exposure. As the market leader with approximately 45 percent share of the Company's Total Addressable Market (TAM), a key tenet of the strategy enables 5N Plus to considerably expand its TAM while continuing to focus on its core activities. The Company will rely on organic and M&A activities to achieve this objective and expects meaningful revenue expansion as it executes against its strategic roadmap.
In March 2021 , 5N Plus announced its intention to acquire AZUR SPACE Solar Power GmbH ("AZUR"). The acquisition, subject to customary closing conditions, will significantly expand 5N Plus's competitive capabilities in specialty semiconductors and culminate in sustainable supply chain infrastructure for critical semiconductor materials. The acquisition will fully integrate AZUR's workforce into 5N Plus, including the appointment of Jürgen Heizmann, Managing Director of AZUR, as a new member of 5N Plus's Executive Committee pending closure.
"I would like to thank my friends and colleagues at 5N Plus with whom I have shared my career for the better part of the past two decades," said Nicholas Audet , Executive Vice President of Electronic Materials. "5N Plus is well-positioned for long-term, sustainable and profitable growth with our expanded capabilities in new sectors, and the Company's trajectory has never been more positive. I am excited for the Company's future, and am grateful to have played a part in its journey."
About 5N Plus Inc.
5N Plus is a leading global producer of specialty semiconductors and performance materials. The Company's ultra-pure materials often form the core element of its customer products. These customers rely on 5N Plus's products to enable performance and sustainability in their own products. 5N Plus deploys a range of proprietary and proven technologies to develop and manufacture its products. The Company's products enable various applications in a number of key industries including renewable energy, security, space, pharmaceutical, medical imaging, and industrial and additive manufacturing. Headquartered in Montreal, Quebec , 5N Plus operates R&D, manufacturing and commercial centers in strategically located facilities around the world including Europe , North America and Asia . The Company's mission is to be critical to its customers, valued by its employees and trusted by its shareholders. The Company's core values focus on integrity, commitment and customer development along with emphasis on sustainable development, continuous improvement, health and safety. www.5nplus.com .
Forward–Looking Statements and Disclaimer
Certain statements in this press release may be forward-looking within the meaning of applicable securities laws. Forward-looking information and statements are based on the best estimates available to the Company at the time and involve known and unknown risks, uncertainties or other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward–looking statements. A description of the risks affecting the Company's business and activities appears under the heading "Risk and Uncertainties" of the 5N Plus 2020 MD&A dated February 23, 2021 , available on www.sedar.com .
Forward–looking statements can generally be identified by the use of terms such as "may", "should", "would", "believe", "expect", the negative of these terms, variations of them or any similar terms. No assurance can be given that any events anticipated by the forward–looking information in this press release will transpire or occur, or if any of them do so, what benefits that 5N Plus will derive therefrom. In particular, no assurance can be given as to the future financial performance of 5N Plus. The forward–looking information contained in this press release is made as of the date hereof and the Company has no obligation to publicly update such forward–looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward–looking statements.
SOURCE 5N Plus Inc.
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