Wednesday, July 30, 2008

First Solar Supplier 5NPlus: 5N Plus Inc. New German Facility Now Operational (FSLR; VNP.TO)

From the press release:
Montreal, Quebec, July 29, 2008 – 5N Plus Inc. (TSX:VNP) is pleased to announce that its new German facility is now operational. The facility will begin shipments of cadmium telluride and other products as well as recycling activities in accordance with 5N Plus’ contractual obligations, which called for commercial operations to be achieved by July 31st, 2008. The facility is owned and operated by 5N PV GmbH, a wholly-owned German subsidiary of 5N Plus, and is located in Eisenhüttenstadt, in the state of Brandenburg.

“We are extremely pleased that our new German facility is now operational and that we have met both our cost objectives and the very tight schedule that we initially laid out” commented Mr. Jacques L’Écuyer, President and Chief Executive Officer of 5N Plus. Mr. L’Écuyer added, “This international expansion has been a huge undertaking for 5N Plus and we are delighted by the outcome. We take this opportunity to thank the 42 employees of our new German subsidiary for their hard work and welcome them to the 5N Plus team. We would also like to thank the many employees of 5N Plus who have been involved in the construction and commissioning of our new facility”.