VANCOUVER, BC — June 8, 2010 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) has signed a binding memorandum of understanding (the “Agreement”) with Swissmetal Industries Limited (“Swissmetal”) regarding an exclusive Canadian distribution agreement for Swissmetal’s CN8 high performance alloy. The Company will be introducing CN8 to the oil and gas industry at the Global Petroleum Show being held June 8 — 10 in Calgary, Alberta.
Under the terms of the Agreement the Company will have the exclusive Canadian distribution rights for CN8, Swissmetal’s advanced copper nickel tin alloy, UNS C72900, and will focus its marketing efforts into the oil and gas sector as well as the aerospace market. CN8 is a high-performance material for mechanical applications with highly demanding specifications — for example bearings for the aerospace industry or oil drilling tools for the petroleum industry.
CN8 combines very high mechanical and good corrosion resistance with excellent friction properties that are superior to those of any other type of alloy currently used in this type of application. CN8 is an environmentally sensitive material that can be recycled without special precautions having to be taken. CN8 will compete directly with several existing alloys but offers superior performance and material characteristics including corrosion and wear resistance.
“We are very pleased to have signed this distribution agreement with Swissmetal and to have the opportunity to work more closely with this highly respected company,” said Anthony Dutton, President and CEO of IBC. “CN8 is an excellent and innovative new product and we are excited about the prospects for this new alloy in the North American market. We look forward to working closely with Swissmetal to raise CN8’s brand awareness and market penetration in Canada and to extending our marketing efforts and partnership globally as we develop demand for CN8 and IBC’s other advanced and beryllium based alloys.”
Swissmetal is a publicly traded company on the Swiss SIX exchange that manufactures and distributes globally a range of high performance alloys for advanced industrial applications. It is one of the largest high added value specialty alloy producers in Europe and is actively increasing its global reach with marketing and partnership initiatives in Asia and North America.
Swissmetal employs over 600 people and is well known for its commitment to product innovation and strong customer relationships.
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, defence, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana, Massachusetts 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”.
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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.
Legal Notice Regarding Forward Looking Statements
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, 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 operations and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. 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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