News: Suppliers
1 July 2021
5N Plus announces planned organizational change
Specialty semiconductor and performance materials producer 5N Plus Inc of Montreal, Québec, Canada has announced the planned departure of Nicholas Audet, executive VP of Electronic Materials, effective in third-quarter 2021, to pursue other interests unrelated to the firm and its scope of business. Audet joined 5N Plus in 2003 and ascended through the organization’s ranks, having assumed various roles with expanded scope of responsibility.
5N Plus provides purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, and also produces related II-VI semiconducting compounds such as cadmium telluride (CdTe), cadmium sulphide (CdS) and indium antimonide (InSb) as precursors for the growth of crystals for solar, LED and eco-friendly materials applications. Sectors addressed include renewable energy, security, space, pharmaceutical, medical imaging, and industrial and additive manufacturing.
“After senior management changes in 2016, our company launched 5N21, a turn-around plan designed to substantially reduce earnings’ volatility, expand margins and strengthen the company’s balance sheet,” says president & CEO Arjang Roshan. “As a member of our Executive Committee, Nick’s role has been instrumental in implementing and realizing the benefits of this plan.”
Earlier this year, 5N Plus unveiled its intent to transform the company by substantially growing its businesses in specialty semiconductors and performance materials while harvesting legacy businesses and those with higher commodity exposure. Claiming to be the market leader with about 45% share of the firm’s total addressable market (TAM), a key tenet of the strategy enables 5N Plus to considerably expand its TAM while continuing to focus on its core activities. The firm says that it will rely on organic and merger and acquisition (M&A) activities to achieve this objective and expects meaningful revenue expansion as it executes against its strategic roadmap.
In March, 5N Plus announced its intention to acquire AZUR SPACE Solar Power GmbH. Subject to customary closing conditions, the acquisition will significantly expand 5N Plus’ competitive capabilities in specialty semiconductors and culminate in sustainable supply chain infrastructure for critical semiconductor materials. It will fully integrate AZUR’s workforce into 5N Plus, including the appointment of AZUR’s managing director Jürgen Heizmann as a new member of 5N Plus’ Executive Committee pending closure.
“5N Plus is well positioned for long-term, sustainable and profitable growth with our expanded capabilities in new sectors, and the company's trajectory has never been more positive,” comments Audet.
5N Plus invests $8.5m to support demand for II-VI materials
