In the aerospace and advanced technologies industries, the potential for growth is seemingly limitless, and rigorous competition in the sector means that many companies may go nowhere – however, the endorsement of a revered name like Lockheed Martin (LMT) can dramatically alter a company’s fortunes. That’s what makes the recent news of an increasingly strong relationship between Lockheed and IBC Advanced Alloys Corp (IB:CA) (IAALF) so noteworthy.
Earlier this week, the Vancouver-based manufacturer and distributor of alloys and related projects announced that they have recently further reinforced this valuable relationship, as Lockheed Martin issued a second contract to IBC to produce components for the F-35 Lightning II Electro-Optical Targeting System (EOTS). The news follows on from the company’s successful delivery of first article components for low rate initial production (LRIP) lots 7 and 8 earlier in July.
The new contract covers planes and related spares totaling a minimum contract value of more than $2 million. Further still, EOTS will be integrated on all F-35 variants, making for planned production quantities of over 3,000 aircraft, with deliveries through 2035. This means that repeat orders over time would amount to significant dollar values. The embracing of Beralcast® by major aerospace companies like Lockheed Martin is helping to bring global attention to the company, thus stimulating their product research, as well as manufacturing and distribution of copper alloys and beryllium aluminum castings.
Over the past three-and-a-half years, IBC Advanced Alloys has worked closely with Lockheed Martin to develop a proprietary process that allows for casting beryllium-aluminum alloys that are commonly used in aerospace engineering. Today, IBC serves a broad variety of industries, including nuclear energy, automotive, telecommunications and a host of industrial applications as well.
A Valuable Relationship Grows Even Stronger
Anthony Dutton, CEO and President of IBC Advanced Alloys expects this new contract to further broaden the footprint of the rapidly growing company. “We are delighted to receive another purchase order for the EOTS azimuth gimbal housing on the F-35 Lightning II. This continues our substantial progress with Lockheed Martin since our initial purchase order was announced in 2014,” says Dutton.
“To date, Beralcast® proprietary beryllium-aluminum casting alloys have had validation from Lockheed Martin…” Dutton says, referring to IBC’s own proprietary and high performance beryllium-aluminum casting alloy, “…and we look forward to continuing to work with the aerospace industry to provide Beralcast® solutions for complex aerospace applications where modulus and weight are key performance drivers.” Certainly, the relationship between Lockheed and IBC can be expected to inspire other major players and investors in the industry to closely examine the alloy manufacturer and distributor – and speculate over how it might prove a valuable addition to their portfolios.
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