FRANKLIN, INDIANA--(Marketwired - Sept. 20, 2016) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQB:IAALF) ("IBC" or the "Company") a leading beryllium and copper advanced alloys company, announced today in a progress report to investors that it is making significant progress in expanding its production capacity and positioning itself for increased sales revenue.
"The entire IBC Advanced Alloys team has been intensely focused on the execution and implementation of production expansion and equipment upgrades that were the focus of our successful capital raise earlier this year," wrote General Heinz in his progress report to investors, which can be seen here: https://goo.gl/4gZV8B. "I am pleased to report that we are making significant progress on all fronts."
General Heinz listed a number of areas where the Company is advancing toward expanding its production capacity and positioning itself for increased sales revenue:
- The Company was recently awarded "Approved Forging Supplier" status by two of the world's largest shipbuilders, Newport News Shipbuilding and the Electric Boat division of General Dynamics.
- IBC's business in supplying precision cast beryllium-aluminum parts to Lockheed Martin for integration into the F-35 Joint Strike Fighter continues to grow.
- The Company's development program for a new beryllium-aluminum alloy product with BAE Systems is progressing well; initial prototypes have completed production and have been delivered to the customer.
- IBC's capital improvements program is advancing across both its Engineered Materials (EMC) division, which specializes in manufacturing precision cast beryllium-aluminum products, and its Copper Alloys division, which focuses on copper and advanced copper alloys in both semi-finished and finished products.
- While sales overall at the Copper Alloys division have remained relatively flat, General Heinz noted that the Company is seeing growth in key product lines. For example:
- The division's copper alloy ring business grew a robust 14% in FY2016, as compared to FY2015, and bookings in FY2017 are continuing to climb. The Company is forecasting continued growth in this business for FY2017.
- The division's proprietary non-beryllium alloy, used primarily in injection molds, experienced an extraordinary 88% year-on-year growth in FY2016. Shipments and bookings for this alloy in the first quarter of FY2017, on a combined basis, have already surpassed FY2016 sales.
- IBC is strengthening its workforce so we can better meet customer needs.
- The Company is working to develop opportunities with scandium alloys - a new potential business line - in partnership with NioCorp Developments Ltd.
General Heinz will provide a live update to investors and the public during a conference call and webcast on Wednesday, September 21, 2016 at 10 a.m. Eastern. Joining General Heinz on the call will be Mark A. Smith, a member of the IBC Board of Directors and currently its largest single individual shareholder, and the Executive Chairman and CEO of NioCorp Developments Ltd. (TSX: NB). General Heinz and Mr. Smith will take questions from investors and the news media following the General's presentation. Details on the conference call & webcast can be seen here: https://goo.gl/gbHXro.
Those wishing to participate in the Wednesday morning conference call and webcast should pre-register here: https://goo.gl/rYWjOa
For more information on IBC and its innovative alloy products, go here.
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. 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