Cleantech

5N Plus Inc (TSX:VNP), a leading producer of engineered materials announced expansion of capacity and capability in its upstream activities across South East Asia and Europe. According to the company, the expansion will increase the company’s capacity for production of specialty metals by more than 2000 metric tons per year. As quoted in the press …

5N Plus Inc (TSX:VNP), a leading producer of engineered materials announced expansion of capacity and capability in its upstream activities across South East Asia and Europe.

According to the company, the expansion will increase the company’s capacity for production of specialty metals by more than 2000 metric tons per year.

As quoted in the press release:

Mr. Pascal Coursol, Vice President, Recycling, Refining and Corporate R&D, commented “Given the Company’s deep pool of metallurgical know-how along with the appropriate asset base we are absolutely convinced that 5N Plus can extract more value from the procurement and treatment of metals utilized in its various businesses.” Mr. Coursol added “We are excited about the possibilities this investment will enable and we view it as a key step to be taken as we move to extract more value from our current business and growth opportunities.”

In 2016, the Company articulated its strategic plan 5N21, supported by three major pillars. This investment is succinctly aimed at supporting the second pillar of the plan which is to apply the Company’s metallurgical know-how to move upstream and extract essential metals from secondary streams in order to competitively support the metal demands of the downstream businesses. The investment associated with this project is expected to remain within the 5N21 investment envelop which for the total duration of the plan shall remain at the overall rate of depreciation. This investment will further improve the affected facilities environmental performance to ensure sustainability and compliance on these sites.

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