News Article
5N Plus expands Asian activities
The firm expects its Laos and new Korean facilities will be instrumental in allowing 5N Plus to meet increasing demand for its products in this part of the world.
5N Plus, a producer of specialty metal and chemical products has reached an agreement to acquire the remaining 40 percent ownership interest in the joint venture company Lao Industrial Resources Co Ltd., that focuses on metal refining.
5N Plus also announced that it will be setting up a gallium chemicals plant in Korea in conjunction with Hong Kong based Golden Harvest, a leading producer of primary gallium. 5N Plus and Golden Harvest have been joint venture partners in a gallium refining facility located in Shenzhen, China since 2009. The new Korean facility will produce gallium chemicals for the growing LED market and is expected to be operational by mid‐2012.
5N Plus President and Chief Executive Officer Jacques L'Ecuyer said, “Expansion of our activities in Asia is part of our growth strategy as we expect to see increasing demand for our products in this part of the world. Our Laos and new Korean facilities will be instrumental in allowing us to leverage this demand and the corresponding business opportunities.”
