IBC Advanced Alloys Provides Update on Copper Alloys Operations and Announces Development of New Alloy
September 17, 2013 (Source: Marketwired) — IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) (“IBC” or the “Company”) is pleased to provide an important update on ongoing sales and marketing initiatives as well as new product and alloy development projects at its Copper Alloys division based in Franklin, Indiana.
IBC Copper Alloys has successfully developed a new advanced copper-based alloy for an internationally recognized global leader of manufacturing equipment and casting technologies for the automotive industry. IBC Copper Alloys has been supplying this particular customer with the specialized alloy for several months and, based on actual annualized revenue for the last six months, the Company is targeting $2.5 million in annual sales, with significant market growth potential in the automotive sector, and other industries, for this new copper alloy product.
IBC’s new advanced copper alloy has an improved combination of strength, hardness and conductivity which equates to enhanced performance and longer life in the end user’s process which in turn will result in long-term cost savings. IBC has already begun to market and test the alloy in other industries such as electrical equipment manufacturing and believes this new alloy will have significant benefit for advanced welding applications and complex plastic injection molding solutions.
IBC Copper Alloys continues to position itself as a leader in specialty alloy production and offers a go-to-market approach working closely with its customers to meet their specific technical and engineering requirements. The Company’s progressive efforts to develop new technologies and superior products allow IBC to better serve the end users’ demands while increasing customer base and product offerings.
“IBC’s ability to provide quality materials for specific customer demand is testimony to our leadership in product development, reliability and quality,” said Doug Veitch, IBC’s Vice President of Business Development. “In addition to new alloys, we continue to work on developing semi-finished parts for our customers, in line with our commitment to add value and support our customers’ value chains. IBC is confident,” continued Veitch, “that our new product development will accelerate long-term growth and better position the Company with a wider range of end users and distributors that will benefit from our high quality products.”
IBC Copper Alloys manufactures and distributes a wide variety of copper alloys as castings and forgings directly to end users and serves industries such as automotive, welding and mold tooling through a network of established dealers and distributors. IBC Copper Alloys has the capability to produce large high quality production input billets providing a strong competitive advantage for beryllium copper and non-beryllium copper wrought products. We supply our customers with forged and machined copper alloys in rods, plates, tubes, rings and custom products.
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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 sectors including aerospace, automotive, telecommunications and a range of industrial applications. The Company also supports advanced beryllium nuclear fuels research at several leading US universities. IBC has 83 employees and has production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global 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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