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5N Plus announces CdTe supply agreement with First Solar

14.03.2012: Canadian specialty metal producer 5N Plus Inc. published its fiscal year 2011 results and announced that it has signed an exclusive cadmium telluride (CdTe) supply agreement with US thin-film module producer First Solar Inc. Under the new long-term agreement, 5N Plus will supply First Solar with all of the CdTe it needs for its global manufacturing operations. Without giving specifics, 5N Plus said the pricing in the new supply agreement has been adjusted downward from the companies’ three existing agreements. The agreement can be cancelled by either party by providing two-year advance notice. Regarding its financial results, 5N Plus announced that in the fiscal year ended Dec. 31, 2011 – which was only seven months long due to a change in how the company measures its fiscal year – the company incurred impairment charges of $47 million due to a challenging solar market. Total revenues for the seven-month fiscal year reached $392 million, but the company had a net loss of nearly $22 million. ... Source: 5N Plus Inc.; Summary: PHOTON http://www.5nplus.com http://www.5nplus.com/uploads/Final_Eng_Q211.pdf The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/62279.pdf

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com