IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp.

February 09, 2010 09:30 ET

IBC Provides Financial and Manufacturing Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2010) - IBC Advanced Alloys Corp. (TSX VENTURE:IB) ("IBC" or the "Company") is pleased to provide an update on its business development activities and a financial overview of the Company's recent performance. Like many companies operating in the commodity and manufacturing related sectors, IBC faced challenges in late 2008 and 2009 as a result of the global economic and financial meltdown. IBC tackled the situation head-on and has emerged a stronger and more focused Company as it moves towards its objectives.

As previously reported in our MD&A, we saw an improvement in our order book in mid-August, indicating a turning point in last year's economic downtown and a cautious return of confidence to our customer base. This improvement has continued with a much-improved order book and we expect that sales for the December 2009 quarter will be at least 40% higher than in the previous quarter when we recorded revenues of US$2.5 million. The Company recently solved some equipment problems which have also helped our shipped orders and revenue growth, with the result that our manufacturing operations are now profitable.

As announced on January 26, 2010, we have hired Douglas Veitch as Vice President of Business Development. Most recently, Veitch was Director of Global Bulk Products for Brush Wellman Inc. where he was responsible for new product development for the global industrial business division of Brush Wellman. At IBC he will focus on sales and business development opportunities outside the US while our existing sales force will continue to focus on our growing US customer base. We expect to hire new staff as we grow our business and are working on a refurbishment program at our Missouri facility for large volume orders so that we can free up capacity at our Pennsylvania plant for specialty products and other advanced alloys.

"The recent downturn in the economy provided some interesting challenges for IBC and I am very proud that our whole team responded positively, both strengthening the Company and also taking advantage of a number of excellent opportunities for growth," said Anthony Dutton, President and CEO of IBC. "We are witnessing a global awakening in the importance of rare metals, high performance materials and advanced alloys," continued Dutton, "and we are working hard with our customers, suppliers and partners, as well as supporting leading R&D initiatives for beryllium applications in nuclear fuels and alternative wind energy, to ensure that IBC maintains a leadership role in this market."

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 60 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil covering approximately 9,500 hectares. 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".

Legal Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectations and/or claims, as applicable, that: (i) IBC is creating a dynamic global beryllium and advanced alloys company; (ii) IBC is undertaking global growth initiatives; (iii) that Mr. Veitch's appointment will be well-regarded by IBC's international customers; (iv) that IBC will hire additional sales staff; and (v) that IBC's refurbishment program at its Missouri plant will free up production capacity at its Pennsylvania plant.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that IBC does not execute its business plan; (ii) the inability of IBC to keep pace with market requirements; (iii) IBC's inability to maintain key relationships with suppliers and customers; (iv) IBC not being able to attract and retain key employees; (v) competitors providing better or cheaper products; (vi) markets for IBC's products not developing as expected; (vii) IBC's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; (ix) the inability to effectively market IBC's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IBC's business plans and strategies; and (xi) unavailability of qualified sales people. These forward-looking statements are made as of the date of this news release and IBC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although IBC believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate.

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.

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