IBC Advanced Alloys Awarded $1.9 Million in New Business from Major U.S. Defense Contractor
31 Agosto 2020 - 9:12AM
IBC Advanced Alloys Corp., (
TSX-V: IB; OTCQB:
IAALF) (
“IBC” or the
“Company”) a leading beryllium and copper advanced
alloys company, is pleased to announce that it has been awarded
$1.9 million in new orders for investment-cast, beryllium-aluminum
(“BeAl”) components from a major U.S. defense contractor.
The purchase order is for additional BeAl components currently
manufactured by IBC, as well as for new BeAl components, both of
which the company expects to produce by the end of 2020.
“IBC is pleased to have been awarded this new business, which
expands our production of one key defense product and gives us an
opportunity to win additional business on new beryllium-aluminum
parts with potential significant long-term upside,” said Ben
Rampulla, President of IBC’s Engineered Materials division, which
specializes in cast BeAl products.
“IBC’s ability to produce investment-cast, near-net-shape
beryllium-aluminum components with complex geometries is unique in
this industry, and we are pleased to see our Engineered Materials
division’s business continuing to expand,” said Mark Smith, IBC’s
CEO and Chairman. “The key to IBC’s continuing growth is
performance, performance, performance, and that is precisely what
this team is focused upon.”
To learn more about IBC, please see the Company’s newest video
and other information on our website at
https://www.ibcadvancedalloys.com.
On Behalf of the Board of Directors: "Mark A.
Smith” CEO & Chairman
CONTACTS:
Mark A. Smith, CEO and Chairman Jim Sims, Investor and Public
Relations +1 (303) 503-6203 Email: jsims@policycom.com
Website: www.ibcadvancedalloys.com @IBCAdvanced $IB
$IAALF
ABOUT IBC ADVANCED ALLOYS CORP.
IBC is a leading beryllium and copper advanced alloys company
serving a variety of industries such as defense, aerospace,
automotive, telecommunications, precision manufacturing, and
others. IBC's Copper Division manufactures and distributes a
variety of copper alloys as castings and forgings, including
beryllium copper, chrome copper, and aluminum bronze. IBC's
Engineered Materials Division makes the Beralcast® family of
alloys, which can be precision cast and are used in an increasing
number of defense, aerospace, and other systems, including the F-35
Joint Strike Fighter. IBC's has production facilities in Indiana,
Massachusetts, Pennsylvania, and Missouri. The Company's common
shares are traded on the TSX Venture Exchange under the symbol "IB"
and the OTCQB under the symbol "IAALF".
CAUTIONARY STATEMENTS
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 forward-looking statements regarding the
value of the purchase order mentioned, IBC’s expection that it will
deliver the parts requested under the purchase order by the end of
2020, and IBC’s expectation that it can expand the number and
variety of beryllium-aluminum components for defense systems.
Although IBC believes that the expectations reflected in this
forward-looking statement are reasonable, forward-looking
statements, by their very nature, are subject to inherent risks and
uncertainties and are based on assumptions, both general and
specific, which give rise to the possibility that actual results or
events could differ materially from our expectations expressed in
or implied by such forward-looking statement. The forward
looking statements made by the Company in this press release are
based on its experience, perception of historical trends, current
conditions, expected future developments and other factors it
believes are appropriate in the circumstances. As a result,
we cannot guarantee that any forward-looking statement will
materialize and we caution you against relying on any of these
forward-looking statements. IBC makes no commitment to revise
or update any forward-looking statements in order to reflect events
or circumstances after the date any such statement is made, except
as required by applicable law. Additional information identifying
risks and uncertainties is contained in IBC’s filings at
www.sedar.com.
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