from CNW Group
5N Plus Subsidiary Awarded U.S. Defense Logistics Agency Strategic Materials Contract
Tuesday, October 09, 2012
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES/
MONTREAL, Oct. 9, 2012/CNW Telbec/ - 5N Plus Inc. (TSX: VNP) (the "Company"), the leading producer of specialty metal and chemical products, is pleased to announce that its 66.67% owned subsidiary Sylarus Technologies, LLC ("Sylarus"), located in St. George, Utah, has been awarded a US$1.32 million contract by the Defense Logistics Agency (DLA) to upgrade a portion of the National Defense Stockpile (NDS) high purity germanium metal inventory to unfinished germanium substrates for multifunction photovoltaic solar cells employed in National Security Space (NSS) applications.
Sylarus is the sole U.S. domestic space-qualified germanium substrate supplier to NSS customers, and is one of only two NSS-qualified germanium substrate suppliers worldwide. This award brings the total Sylarus U.S. Government contract award value to over US$10 million.
The DLA award is strategic in nature as Sylarus now becomes part of the U.S. NDS for strategic materials, with the potential for follow-on business both as a strategic metal supplier and NDS inventory manager.