FRANKLIN, IN (September 13, 2016)– IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”) a leading beryllium and copper advanced alloys company, announces that is has secured “Approved Forging Supplier” status with General Dynamics’ Electric Boat Corporation (NYSE: GD) (“Electric Boat”), which designs, constructs, and provides lifecycle support of submarines for the U.S. Navy.
IBC’s qualification as an Approved Forging Supplier to Electric Boat positions IBC to both provide forged product to Electric Boat through approved suppliers and to provide material directly to Electric Boat. IBC has previously supplied product to Electric Boat through other approved suppliers.
The qualification for IBC was awarded after Electric Boat conducted audits of IBC’s metal forging facility in Franklin, Indiana.
The Electric Boat division of General Dynamics is one of the nation’s premier submarine builders. Established in 1899, Electric Boat has designed and delivered 15 of the U.S. Navy’s 19 classes of nuclear submarines. Now in its second centennial of submarine building, Electric Boat is the design yard and prime contractor for the Virginia-class submarine program and is now developing the next-generation of ballistic-missile submarines to replace the Ohio-class.
“We are very pleased to be named an approved forging supplier with Electric Boat, as this positions us to grow our forged products in our sweet spot, which includes forged rings and flanges machined to print,” said Mark Wolma, President of IBC’s Copper Alloys Division. “We are especially proud to serve as a domestic supplier of these products to Electric Boat across its many product lines.”
For more information on IBC and its innovative alloy products, go here.
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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”.
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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.
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