WILMINGTON, MA and VANCOUVER, July 13, 2015 - IBC Advanced Alloys Corp. (IAALF) (IB:CA) ("IBC" or the "Company"), a leading advanced alloys and precision castings company, has successfully delivered its first completed Beralcast® azimuth gimbal housing components to Lockheed Martin. The articles will be used in the Lockheed Martin F-35 Lightning II Electro Optical Targeting System (EOTS).
Lockheed Martin's EOTS provides affordable, high-performance multi-function targeting to the F-35's full spectrum of military operations. It is the first sensor to combine forward-looking infrared and infrared search and track functionality to provide F-35 pilots with situational awareness and air-to-air and air-to-surface targeting from a safe distance. The technology enables aircrews to identify areas of interest, perform reconnaissance and precisely deliver laser- and GPS-guided weapons.
Ray White, President of IBC Engineered Materials Corp. said, "Successful first article delivery of Beralcast® components to Lockheed Martin raises the bar for high performance aerospace applications delivered with cost and lead time savings. This is an important milestone for both IBC and the aerospace industry," continued White, "and we look forward to continuing to support Lockheed Martin and aerospace with IBC's Beralcast® cast alloys."
The first contract for Beralcast® azimuth gimbal housing components for OEM aircraft fitted with EOTS systems and spares for low-rate initial production (LRIP) Lots 7 and 8 was announced September 8, 2014. Beralcast® alloys are ideally suited to many aerospace applications where lightweight, high modulus and cost are critical performance factors. The principal Beralcast® alloys are three times stiffer than aluminum with 22% less weight and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 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.
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