WILMINGTON, MASSACHUSETTS--(Marketwired - June 22, 2016) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQB:IAALD) (OTCQB:IAALF) ("IBC" or the "Company") a leading beryllium and copper advanced alloys company, announced that it has entered into a joint development contract with BAE Systems (LSE:BA) ("BAE Systems") for production of prototype articles for BAE Systems.
The contract with BAE Systems marks a significant expansion of IBC's work with global aerospace manufacturers interested in utilizing IBC's proprietary Beralcast® materials. IBC has already qualified Beralcast® with another major aerospace and defense manufacturer for use in the F-35 Joint Strike Fighter system.
Under the contract with BAE Systems, IBC will develop initial prototype components in order to demonstrate the form-fit-function of Beralcast® casted products for BAE Systems' specific applications.
"We are very pleased to be working with such an outstanding global defense and aerospace leader like BAE Systems," said Major General (ret.) David Heinz, President and Chief Executive Officer of IBC. "This is an important advance for IBC and it positions us to compete successfully for a growing book of business from another global aerospace company for our Beralcast® material."
"This is an exciting project as these prototypes are particularly well suited to our proprietary and innovative beryllium-aluminum casting processes," said Chris Huskamp, President of IBC's Engineered Materials Division. "We look forward to delivering ground-breaking components to BAE Systems."
Beralcast® products are IBC's proprietary family of beryllium-aluminum alloys. They are ideally suited for applications where light weight, high modulus, and cost are critical performance factors, such as in aerospace, defense, and precision manufacturing. Beralcast® alloys are three times stiffer and weigh 22% less per unit volume than aluminum. Beralcast® alloys can be an engineered substitute for aluminum, magnesium, titanium, metal matrix composites, pure beryllium, or powder metallurgy beryllium-aluminum materials in the appropriate applications.
For more information on IBC's Beralcast® and innovative alloy products, go here.
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".
@IBCAdvanced $IB $IAALF #Beryllium #Beralcast #F35
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.