WILMINGTON, MASSACHUSETTS and FRANKLIN, INDIANA--(Jan. 28, 2016) -
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IBC Advanced Alloys Corp. (TSX VENTURE:IB) (OTCQX:IAALF). Major General David "Duncan" Heinz, USMC (ret) is pleased to provide an update and report following his recent appointment as Chief Operating Officer of IBC Advanced Alloys Corp. (TSX VENTURE:IB) (OTCQX:IAALF) a leading advanced alloys and precision castings company.
"I have the lead!" I have spoken these words, or words like them, countless times in my 32-year military career. Each time, I am gratified by the opportunity, impressed by the great team around me and focused on the mission and challenges ahead. They are not words spoken lightly as they represent the ultimate assumption of responsibility and authority. I say them now to the great employees of IBC Advanced Alloys, to the CEO and fellow directors and to the shareholders at large. I have the lead! I understand the mission and challenges ahead.
For the Copper Alloys division with facilities in Franklin, Indiana, New Madrid, Missouri and Royersford, Pennsylvania, we can expect copper prices to remain depressed for the near term. However, in spite of an uncertain copper market, demand for our products has remained relatively constant with new opportunities emerging. At the Copper Alloys division we will focus on execution efficiency, capturing a greater percentage of quoted orders and, as disclosed in the MD&A, explore additional value add opportunities for our core wrought copper alloys.
For the Engineered Materials division located in Wilmington, Massachusetts, the task of working with our first major aerospace company, Lockheed Martin, to spearhead and champion Beralcast© and our casting processes through the rigorous certification procedures is now behind us with the first production deliveries confirmed in July 2015. The particular F-35 EOTS part was, by far the most complex geometry available and it took longer and cost more than we expected to complete our certifications. But we are through this critical phase and will now focus on effectively and efficiently delivering current orders and growing the order book with Lockheed Martin and other aerospace contractors.
On a combined basis I will be working closely with the operational teams at the Copper Alloys and Engineered Materials divisions to rationalize costs and integrate and streamline operations to improve overall efficiencies. While it may not be immediately apparent, both divisions contain very specific and unique core competencies such as vacuum casting expertise and advanced forging skills for exotic materials. These skill sets are highly complementary with synergies across many possible production applications. As COO, I will focus on bringing these divisions more closely together to maximize our corporate synergies with the goal of growing the top line and profitability with an expanded and value added product mix.
To the fellow shareholders, thank you for your loyalty and commitment and I rededicate myself and the team to value creation. I believe in the product and processes and even more so in the great employees, or I would not have taken this position. The volatility in the stock market will continue, and it will take a couple of quarters for results to begin to show in the numbers but I also recognize the great opportunity. I will work diligently to deliver on the great promise that it represents. Let's make this happen."
About IBC Advanced Alloys Corp.
IBC is a leading advanced alloys and precision castings company serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 77 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF."
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
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Contact InformationIBC Advanced Alloys Corp.
Director of Corporate Communications
(604) 685-6263 ext 110
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