(Ottawa) – September 17, 2014
Export Development Canada (EDC) today announced USD 17.5 M in financing for Montreal-based 5N Plus Inc. (5N), a fast-growing global producer of specialty metal and chemical products used in advanced pharmaceutical, electronic, and industrial applications.
EDC is Canada’s leading provider of financing, insurance and bonding for Canadian companies of all sizes that do business outside of Canada.
EDC’s financing is part of a larger USD 125 M credit facility for 5N, which will be used to help the company grow its international operations. Six other financial institutions were included in the facility, with HSBC Bank Canada acting as the lead arranger. EDC was chosen as a commercial partner because its extensive market knowledge aligns well with 5N’s growth strategy.
“As our revenues have shown in the last five years, our company has been focused on growth” said Jacques L’Ecuyer, President and Chief Executive Officer of 5N. “This financing will be used to support our continued growth, and we feel that EDC is a great partner to have moving forward because they understand our international vision, and are well positioned to help us along our new strategic path.”
To date 5N has grown largely through acquisitions, but their strategy moving forward is to increase value-added activities, expand recycling operations, broaden their presence in Asia, and capitalize on the international platform they’ve built.
Approximately 99 per cent of 5N’s Canadian sales are exports, demonstrating the strong global demand for their materials. Many of the purified metals they produce, such as bismuth, gallium, germanium and tellurium, are critical precursors in growing markets for solar panels, light-emitting diodes (LEDs) and other eco-friendly materials.
“5N’s potential for international growth is tremendous, and EDC has the resources to help support that growth,” said Carl Burlock, Senior Vice-President, Financing and Investments, EDC. “We can provide financing, market intelligence, and advice to help 5N, and other companies like 5N, establish and grow their presence in different parts of the world. Opening doors to new markets means more customers, and increased export sales. If this sounds like something your company is looking to do, and you’re thinking of growing business outside of Canada, EDC would love to hear from you.”
Canadian companies looking to grow their international business can contact EDC at 1–800–295–2528.
5N Plus Inc. is the leading producer of specialty metal and chemical products. Fully integrated with closed‐loop recycling facilities, the Company is headquartered in Montreal, Quebec, 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 semiconductor wafers. Many of these are critical precursors and key enablers in markets such as solar, light‐emitting diodes and eco‐friendly materials.
