Vancouver, BC (PRWEB) June 02, 2011
IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) has signed an exclusive supply contract to provide investment-cast engineered components to a global leader in the design and manufacture of high-technology assembly equipment. The customer is a highly regarded industry pioneer that has provided customers with market leading solutions and process technology expertise for decades.
In recognition of the customer’s high quality requirements and IBC’s leading edge technologies and customer commitment, the parties have agreed to an exclusive supply agreement to ensure supply and revenue certainty for between one and three years. Under the terms of the agreement IBC’s Engineered Materials division (formerly Beralcast Corp.) will provide its customer with advanced investment castings manufactured using the Company’s high performance Beralcast® family of alloys.
“This is a very significant business development for IBC and we are pleased to be recognized as an essential and high-quality member of our customer’s supply chain,” said Anthony Dutton, President and CEO of IBC. “This exclusive supply agreement validates IBC’s technology and business model and demonstrates our commitment to providing advanced alloys and materials solutions to our global customers. We are looking forward,” continued Dutton, “to working closely with our customer and to supporting their international reputation for manufacturing excellence.”
IBC has enjoyed preferred supplier status with this customer since it acquired the Massachusetts based Engineered Materials division in March of 2010 and has a strong track record of high quality and on time deliveries. While no minimum ordering requirements are stipulated under this new exclusive supply agreement, IBC management is confident that if existing and historical ordering levels are maintained, the agreement has the potential to generate a minimum of $4 million in annual revenues for its Engineered Materials division.
Beralcast® is a critical material used to manufacture specific components of semiconductor assembly equipment, and other high tech industrial applications, due to its ultra-light weight combined with high stiffness, its low coefficient of thermal expansion and excellent vibration dampening characteristics. This combination of material properties contributes to greater production efficiencies and is a crucial material required to maintain high quality standards.
The Beralcast® family of alloys are ideally suited to commercial and military aerospace applications requiring complex, lightweight or high-stiffness parts. The primary Beralcast® alloy is more than three times stiffer than aluminum with 22% less weight and can be precision-cast to simple and complex configurations making it an ideal engineered and cost effective solution for a wide range of complex aerospace and commercial applications.
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. Additionally, IBC owns prospective beryllium properties in the Western US covering approximately 9,500 hectares. 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”.
IBC Advanced Alloys Corp. - Contact
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
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, 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.