The modern age has been defined by our ability to further technological advancements. From the earliest machines to today’s smartphones, the technologies that have enriched our society would not be possible without the components it takes to build them.
Particularly in the fields of nuclear energy, automotive, telecommunications and a range of industrial applications, strong, cost efficient, sophisticated, and reliable materials for parts are vital. A number of factors, including weight and thermal conductivity, could make or break a design. One company, IBC Advanced Alloys Corp.(TSX-V: IB), is working to better the materials that are a necessity to these industries.
A Necessity for a Number of Industries
Vancouver-based contractor IBC Advanced Alloys is a leading advanced alloys and precision castings company, which also supports a nuclear fuels R&D initiative. IBC manufacturing and distribution of rare metals (beryllium) based alloys and related products provides solutions to the industrial, tech and aerospace industries.
Beralcast®, IBC’s family of beryllium aluminum alloys, are used 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 and metal matrix composites.
"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."
Huge Market Potential
With beryllium being a proven and widely used material in specific aerospace applications, the company’s casting process allows machined parts to be replaced with castings within new markets. According to IBC’s company presentation, with the possibility that the casting process could be of use in other markets, their management estimates the casting market at around $200 million annually.
"IBC's business development initiatives focus on expanding our high performance castings product line while improving margins and operating efficiencies,” said Chris Huskamp, President of Engineered Materials. “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, high performance manufacturing is a growing opportunity for IBC.”
A Year of Major Contracts
The company had a landmark year in 2015 with a number of milestone developments. Some operational highlights include:
- Receiving a purchase order from UTC Aerospace Systems, a unit of United Technologies Corp. (NYSE: UTX), to supply advanced Beralcast® components for critical imaging systems used on a variety of US and foreign military aircraft.
- Receiving a purchase order from Kaman Corporation (NYSE:KAMN) to supply critical imaging system components that will be used on US naval and foreign military tactical aircraft.
- Receiving a $1.3 million order from a new multinational manufacturing customer based in Asia.
- Attending an invitational materials symposium hosted by Texas A&M University, in collaboration with Rice University, at Texas A&M’s College Station Campus.
- Closing a final tranche of upsized $1.75 million financing
- Receiving an investment casting hard tooling contract from Lockheed Martin for its Sniper® Advanced Targeting Pod (ATP) components.
- Receiving two new orders, totaling more than US $1.2 million, from an existing Asian precision manufacturing customer.
- Presenting a technical paper at the Characterization and Quality Control of Nuclear Fuels Conference in Hyderabad, India on December 1-3, 2015.
Furthermore, Engineered Materials revenue, with their 2015 fiscal year ending in June, totaled $2.7 million, up $700,000 or 36% from 2014. The increased sales and gross profit in our Engineered Materials division is primarily attributable to deliveries of finished components under its LRIP 7/8 contract with Lockheed Martin.
“It was very gratifying to see the strong performance of Engineered Materials, which reflects both a strong order book and the operational improvements we have made in the last three months,” said Anthony Dutton, CEO of IBC.
Taking Their Winning Streak into 2016
By overcoming the limitations of pure beryllium and existing aluminum alloys, IBC Advanced Alloys’ Beralcast® is aimed to revolutionize key industries. With an innovative product, million dollar sales orders, a major contract with a leading innovative technologies company, the company is positioned to take their winning streak into 2016.
“Robotics, precision manufacturing and automated assembly rely on highly sophisticated materials,” said Huskamp, “ and IBC sees many opportunities for Beralcast® where precision, lightweight and high modulus are essential operating requirements."
For more information about IBC Advanced Alloys, visit www.ibcadvancedalloys.com.
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