Company also acquires remainder of specialty metals refining facility in China.
5N Plus Inc. has reported that its newest recycling facility, located in Malaysia, is now operational. The plant is located in an industrial area of the country where there are a number of technological firms.
The new facility is expected to provide recycling services for solar cell manufacturers. 5N expects the new facility to gradually increase its range of products and services to address broader requirements and capture opportunities in the South Asian market.
The company also announced that it has acquired the remaining 50 percent ownership interest in the joint venture company MCP Metals (Shenzhen) Co. Ltd, a gallium refining facility in Shenzhen, China.
"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 Shenzhen and new Malaysian facilities will be instrumental in allowing us to leverage this demand and the corresponding business opportunities," says Jacques L'Ecuyer, president and CEO of 5N Plus.
5N Plus, headquartered in Montreal, produces specialty metal and chemical products. The company is fully integrated with closed-loop recycling facilities and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia.