News Article
5N Plus to deal with all First Solar`s compound semiconductor needs
The producer of specialty metal and chemical products will benefit from the continued growth associated with the CdTe solar cell manufacturer until 2019
5N Plus, has entered into new supply agreements with First Solar, covering its compound semiconductor needs until March 31st, 2019. The company has renewed its existing CdTe supply agreement and the compounds' by-products recycling agreement.
In addition, a new supply agreement broadly covering all of First Solar's other compound semiconductor needs up to March 31st, 2019, has also been concluded.
Under the new agreements, First Solar has agreed to exclusively purchase from 5N Plus, all the CdTe required by First Solar on a worldwide basis for the manufacturing of solar photovoltaic modules.
"We are very pleased to have extended our agreements with First Solar until 2019, enabling us to bring our relationship with this important customer to another level. While we conceded competitive pricing, we believe that this will be largely compensated over the course of the next quarters by the increase of sales volume providing us with a solid and predictable revenue stream for the next five years," says Jacques L'Ecuyer, President and Chief Executive Officer of 5N Plus.
"First Solar remains committed to reducing solar module cost and improving efficiency, and we intend to be their preferred solution for doing so through our close technical and commercial relationship. We strongly believe that these new supply agreements will allow 5N Plus to benefit from continued growth associated with First Solar's leading position in the solar market," he adds.
"5N Plus has been and continues to be a critical supplier to First Solar. These agreements support our plans to increase the competiveness of CdTe based solar modules and are in line with our corresponding roadmap aimed at achieving this," notes Tymen de Jong, Senior Vice President of Global Operations of First Solar, Inc.
In addition, a new supply agreement broadly covering all of First Solar's other compound semiconductor needs up to March 31st, 2019, has also been concluded.
Under the new agreements, First Solar has agreed to exclusively purchase from 5N Plus, all the CdTe required by First Solar on a worldwide basis for the manufacturing of solar photovoltaic modules.
"We are very pleased to have extended our agreements with First Solar until 2019, enabling us to bring our relationship with this important customer to another level. While we conceded competitive pricing, we believe that this will be largely compensated over the course of the next quarters by the increase of sales volume providing us with a solid and predictable revenue stream for the next five years," says Jacques L'Ecuyer, President and Chief Executive Officer of 5N Plus.
"First Solar remains committed to reducing solar module cost and improving efficiency, and we intend to be their preferred solution for doing so through our close technical and commercial relationship. We strongly believe that these new supply agreements will allow 5N Plus to benefit from continued growth associated with First Solar's leading position in the solar market," he adds.
"5N Plus has been and continues to be a critical supplier to First Solar. These agreements support our plans to increase the competiveness of CdTe based solar modules and are in line with our corresponding roadmap aimed at achieving this," notes Tymen de Jong, Senior Vice President of Global Operations of First Solar, Inc.
