WILMINGTON, Mass., March 2, 2016 /PRNewswire/ -- IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) and ("IBC" or the "Company") a leading advanced alloys and precision castings company, has signed an agreement with a leading global manufacturer of semiconductor and electronics assembly equipment to be its exclusive supplier of Beralcast® cast components. IBC will supply Beralcast® 363 cast components for a four-year period with the agreement expected to generate base line sales of approximately USD $4,800,000 over the term of the contract.
"High-performance automation and manufacturing are great applications for Beralcast® materials and it is a privilege to serve this leading global company," said IBC Engineered Materials President Chris Huskamp. "Robotics, precision manufacturing, and automated assembly equipment use sophisticated designs and complex components to meet demanding design criteria and critical tolerances," continued Huskamp. "IBC's Beralcast® components are ultra-lightweight with high modulus and excellent thermal characteristics and are ideally suited to applications requiring high precision and performance. We are excited to be involved in precision manufacturing and see many new applications for Beralcast® components in this growing market."
"While IBC will continue to focus on near term growth opportunities in its core aerospace and defense business," said General David Heinz, IBC's Chief Operating Officer, "we are pleased to be strengthening our relationship with a recognized global leader and look forward to supporting them for many years to come. Recent changes to our IBC Engineered Materials operations have resulted in improved production rates and operating efficiencies," continued General Heinz, "and we are well positioned to continue and grow our sales in the precision manufacturing sector while we broaden our aerospace product offerings and customer base. We are pleased to enter into this exclusive agreement for precision-cast components and to support this company's ongoing commitment to manufacturing excellence."
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 a leading advanced alloys and precision castings company serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 77 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 OTCQB 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.
SOURCE IBC Advanced Alloys Corp.