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5N Plus Completes its 2016 Footprint Optimization Initiatives
5N Plus Completes its 2016 Footprint Optimization Initiatives Canada NewsWire MO...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n\n\n\n5N Plus Completes its 2016 Footprint Optimization Initiatives\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Nov. 6, 2017\n\n\n\nMONTREAL, Nov. 6, 2017 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) (the \"Company\" or the \"Group\"), a leading producer of specialty chemicals and engineered materials, today announced that the footprint optimization Initiatives announced a year ago, when unveiling its strategic plan 5N21, has been completed. \n\nAs a part of these initiatives, all key product lines formerly produced at its Wellingborough, U.K, plant have been successfully relocated to other plants within the Group, namely plants in Canada, Germany and China. \n\n\"Thanks to our teams across the globe, we are able to achieve this milestone in line with our expectations and without interruptions resulting in a seamless transition. This action will improve the competitiveness and flexibility of the Group, yielding positive gross margin effects starting next year\", said Richard Perron, Chief Financial Officer. \n\nOver the past months, the Company also took further actions to optimize select activities across Asia, with emphasis on improving topline growth. The restructuring fees associated with these initiatives are expected to provide a payback of less than two years, not considering positive cashflow due to the divestment of redundant assets.\n\nAbout 5N Plus Inc.5N Plus is a leading producer of specialty chemicals and engineered materials. Fully integrated with closed-loop recycling facilities, the Company is headquartered in Montreal, Québec, Canada and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia. 5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications. Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconducto...