5N Plus Inc T.VNP

A GOOD News Release IMO

[TimeBuilder]

MONTRAL, April 26, 2023 /CNW/ - 5N Plus Inc. (TSX: VNP) ("5N Plus" or the "Company"), a leading global producer of specialty semiconductors and performance materials, announced today that, as a result of previously announced contracts, its wholly-owned subsidiary, AZUR SPACE Solar Power GmbH ("AZUR"), has undertaken concrete actions to increase its capacity by 30% over the course of 2023 and 2024.

"We are investing in activities and equipment to meet the unprecedented demand for our space and terrestrial solar cells, which has created a strong multi-year pipeline of contracted work," said Gervais Jacques, President and CEO of 5N Plus. "This meaningful capacity increase further strengthens our global leadership position in the sector and is a testament to the quality and diversified applications of AZUR's advanced solar cell technology."

The production capacity program, comprised of three components, impacts all AZUR departments, including epitaxy growth, cell production, assembly and testing. First, AZUR has implemented a productivity improvement program, which notably includes an additional shift to the assembly production schedule. In addition, new equipment has been ordered to increase front-end production capacity. Finally, AZUR will be implementing co-investment initiatives to purchase and install additional equipment to improve production yield, promote automation and increase overall production capacity.

[s2000duck]

The closing of their Belgium plant ops I think will be recognized in this quarter?  If so I would expect revenues to fall and stagnant as Azur revs may not quite more than offset?  Insiders sold at the 3.50ish level so wonder if the price will retrace further to sub $3. VNP 2024 should be bullish though...