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5N Plus Invests $8.5M in Montreal Campus to Support Demand for II-VI Specialty Semiconductor Materials
5N Plus Invests $8.5M in Montreal Campus to Support Demand for II-VI Specialty Semiconduc...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n \n \n \n 5N Plus Invests $8.5M in Montreal Campus to Support Demand for II-VI Specialty Semiconductor Materials\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Investment deploys new process technologies and supply chain optimization to lower unit cost of production, reduce carbon footprint and improve access to essential materials\n \n \n \n \n All amounts expressed in U.S. dollars.\n \n \n \n \n MONTREAL\n \n ,\n \n June 2, 2021\n \n /CNW Telbec/ - 5N Plus Inc. (\"5N Plus\" or the \"Company\") (TSX: VNP), a leading global producer of specialty semiconductors and performance materials, today announced that it is investing\n \n $8.5 million\n \n in its\n \n Montreal\n \n campus (\"5N Plus Montreal\") to expand the development and manufacturing of critical and strategic materials, including those containing tellurium, for advanced II-VI semiconductor compounds and engineered powders. The investment is supported by and has received funding from the Ministère de l'Économie et de l'Innovation (Ministry of Economy and Innovation) and the Ministère de l'Énergie et des Ressources Naturelles (Ministry of Energy and Natural Resources) within the province of\n \n Quebec\n \n , accounting for approximately a third of the investment.\n \n \n \n Alignment between investment and strategy\n \n \n For over 20 years, 5N Plus has developed ultra-high purity compounds based on the family of II-VI specialty semiconductor materials at 5N Plus Montreal. With this investment, 5N Plus will expand the capacity of its\n \n Montreal\n \n campus to address the growing demand of II-VI semiconductor compounds and powders, including those essential for the renewable energy market. The investment in process technology and supply chain optimization will reduce unit cost of production and the overall carbon footprint of the activity. The investment package is expected to be completed by the autumn of 2022.  The Company has indicated that it will be investing near the rate of depreciation ov...