VANCOUVER, BC — March 24, 2010 – IBC Advanced Alloys Corp. (TSX.V:IB) (“IBC” or the “Company”) is pleased to announce that it has signed long-term supply agreements (the “Agreements”) for beryllium as well as beryllium copper master alloy with Ulba Metallurgical Plant (“Ulba”). Ulba is one of the largest and most important beryllium processing and manufacturing facilities in the world and is a wholly owned subsidiary of Kazatomprom, the national atomic company of Kazakhstan.
The Agreements are a part of IBC and Ulba’s longstanding supply relationship and are further to the letter of intent recently signed with Kazatomprom. The letter of intent, previously announced on November 23, 2009, is intended to strengthen the companies’ existing relationship by addressing supply agreements and other mutually beneficial initiatives related to the beryllium industry. Under the terms of the Agreements, Ulba and IBC have committed to favourable multiple-year supply commitments for beryllium metal and beryllium copper master alloys. These Agreements will allow better forward planning practices for both companies and also support Ulba and IBC’s international growth initiatives.
“We are very pleased to have signed these important long term supply agreements with Ulba,” said Anthony Dutton, President and CEO of IBC Advanced Alloys. “Ulba is an acknowledged global leader in the beryllium sector and also an important strategic partner for IBC and we look forward to working closely with them as we build our business together.”
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 65 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”.
For additional information please contact:
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: [email protected]
Website: www.ibcadvancedalloys.com
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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