FRANKLIN, INDIANA--(Marketwired - Nov. 14, 2016) - IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX VENTURE:IB)(OTCQB:IAALF) announces that David Anderson, the Company's current Vice President of Finance, has been appointed as Chief Financial Officer, replacing Simon Anderson, who has joined the Company's Board of Directors.
David Anderson (no relation to Simon Anderson) is a Certified Management Accountant with over 20 years of progressive experience with public and private manufacturing companies, including in mergers and acquisition. He has worked at IBC and its predecessor company since 2007, serving in a variety of accounting, human resources, and information technology roles. David received his BA in Accounting from the University of Indianapolis.
Simon Anderson has served since 2007 as Chief Financial Officer for IBC and its predecessor company. A CPA, CA with 30 years' experience, he has worked as an officer or director of public companies on the TSX Venture Exchange, TSX Exchange, and NASDAQ for almost 20 years. He has extensive experience in financing, mergers and acquisitions, corporate governance, and securities regulation practices, and he worked for nine years in business valuation with BDO Canada LLP. Currently a director of Sinovac Biotech Ltd. (NASDAQ: SVA), Simon received his Bachelor of Commerce in Accounting and Management Information Systems from the University of British Columbia.
"The Board and I are very pleased with the addition of Simon Anderson to our Board of Directors and with David Anderson's appointment as Chief Financial Officer," said Major General Duncan Heinz (USMC, ret.), IBC's President and CEO. "Both of these individuals know our Company and the industries we serve extraordinarily well, and they have decades of experience between them in the finance, accounting, securities regulation, and business development fields. I am grateful that the Company will continue to benefit from their experience and their dedication to ensuring that IBC continues to meet our customers' needs and continues to build shareholder value."
Simon Anderson's appointment to the IBC Board follows the October 31, 2016 resignation from the Board of Anthony Dutton, the Company's former President and CEO. "I want to once again thank Anthony for his years of service and his unflagging commitment to the success of IBC," General Heinz said. "We are poised today for growth and long-term success due in good measure to Anthony's many years of leadership and hard work in building up this Company."
On Behalf of the Board of Directors:
Duncan Heinz, President, CEO and Director
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".
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.