IBC Copper Alloys Receives $1.3 Million Order From Asian Precision Manufacturing Multinational
April 20, 2015 (Source: Marketwired) — Initial Order From New Customer Validates IBC’s Expanded Copper Alloys Business Initiatives
IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) (“IBC” or the “Company”) a leading advanced alloys and precision castings company, reports that its Copper Alloys division has received a US$1.3 million order from a new multinational manufacturing customer based in Asia. Delivery of the finished products is expected to begin in the first quarter of fiscal 2016 and IBC is confident of additional business.
IBC is expanding its business development initiatives to meet the growing global demand for specialty high performance copper alloy products. Asian markets are increasingly important and IBC will continue to leverage its expertise in these dynamic economies. IBC’s new customer has contracted for specialized engineered copper alloy products to improve their production line efficiency, operating margins and yields. The customer identity has not been disclosed for competitive reasons.
IBC Copper Alloys’ President Mark Wolma summarized, “IBC’s business development initiatives focus on improving margins and expanding our product line with semi-finished products. We have identified a wide range of value-add opportunities for specific industries and are in active discussions with several groups. While Copper Alloys has accounts generating similar annual revenues, this $1.3 million single order is an important validation of our expanded business strategy. This order also supports”, continued Wolma, “Copper Alloys’ focus on value-added, higher-margin growth opportunities where we have a sustainable competitive advantage.”
Anthony Dutton, CEO of IBC Advanced Alloys Corp. said, “IBC is building a strong reputation as a materials solutions provider and continues to build momentum with both our Copper Alloys division and our Beralcast® alloys produced at our Engineered Materials facility in Wilmington, MA. We are focused on supporting our customers and their commitment to manufacturing excellence.”
IBC Copper Alloys is a profitable and a growing business. It operates plants in Royersford, Pennsylvania, New Madrid, Missouri and Franklin, Indiana, which is the hub for IBC’s Copper Alloys operations. IBC Copper Alloys manufactures and distributes a wide variety of high-performance copper alloys such as castings and forgings serving domestic and international customers in the plastic injection mold, automotive, oil and gas and advanced manufacturing industries. The division’s core alloys include beryllium copper, chrome copper and aluminum bronze in plate, block, bar and rings. IBC is growing its business with additional focus on value-add semi-finished products which significantly improve quality control and lead times for customers while improving IBC’s margins and profitability.
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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 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. 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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