WILMINGTON, MASACHUSSETS and VANCOUVER, BRITISH COLUMBIA--(Sept. 21, 2015) - IBC Advanced Alloys Corp. (IB:CA) (IAALF) ("IBC" or the "Company") a leading advanced alloys and precision castings company, reports that its Engineered Materials division has received two new orders totaling more than US$1.2 million from an existing Asian precision manufacturing customer. Deliveries of the finished cast components are expected to begin in the first quarter of fiscal 2016 and IBC is confident of additional business.
Engineered Materials President Chris Huskamp said, "IBC's business development initiatives focus on expanding our high performance castings product line while improving margins and operating efficiencies. We have identified a wide range of new opportunities and are engaged with several groups. While IBC is currently focusing on the aerospace sector for its Beralcast® alloys," continued Huskamp, "high performance manufacturing is a growing opportunity for IBC. Robotics, precision manufacturing and automated assembly rely on highly sophisticated materials and IBC sees many opportunities for Beralcast® where precision, light weight and high modulus are essential operating requirements."
IBC is expanding its business development initiatives to meet the growing global demand for specialty high performance and high modulus cast alloy products. Asian markets are increasingly important and IBC will continue to leverage its expertise in these dynamic economies. IBC's customer has contracted for specialized high performance castings to improve the efficiency and effectiveness of their manufactured product where tight operating tolerances and vibration dampening characteristic are critical performance measures. The customer identity has not been disclosed for competitive reasons.
"IBC is building a strong reputation as a materials solutions provider and continues to build momentum with both our Copper Alloys division and our high modulus lightweight Beralcast® alloys," said Anthony Dutton, President and CEO of IBC Advanced Alloys. "We are committed to supporting our customers, their commitment to manufacturing excellence and their need for advanced materials that exceed critical performance targets."
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 78 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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