VANCOUVER, BC – June 23, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) and Ulba Metallurgical Plant JSC (“Ulba”) have signed a strategic memorandum of understanding (“MOU”) to further advance and strengthen their relationship and to continue to target emerging opportunities in the global beryllium and rare metals market.
The MOU was signed after meetings in May 2011 in Ust-Kamenogorsk, Kazakhstan with Ulba, one of the largest and most important beryllium processing and rare metal manufacturing facilities in the world, and a wholly owned subsidiary of Kazatomprom, the National Atomic Company of Kazakhstan.
Under the terms of the MOU, Ulba and IBC intend to renew and extend their multi-year binding supply agreements for both beryllium metal and beryllium master alloys. These agreements will provide IBC with a consistent and reliable supply to meet increasing customer demand and to grow the IBC’s alloys business. Ulba and IBC also agreed to examine technological and business development initiatives that will enhance and strengthen their respective beryllium and beryllium alloys business.
“We are very pleased to have signed this very important MOU,” said Anthony Dutton, President and CEO of IBC, “and look forward to expanding our excellent relationship with Ulba. The 2010 acquisition of Beralcast, now called Engineered Materials Division, has positioned IBC as a global leader in the beryllium aluminum castings market and, together with our beryllium copper alloys business, has dramatically increased IBC’s product range and market depth. Our strong relationship with Ulba,” continued Dutton, “is a cornerstone of our growth and we are excited by the long term potential of our relationship and our mutual rare metals business.”
In addition, Ulba and IBC have agreed to identify and explore new business opportunities with complementary rare metals, such as tantalum, niobium and others. The parties agreed to study and to potentially develop mutually beneficial opportunities in resource exploration, development and production as well as downstream manufacturing and distribution. This understanding recognizes Ulba’s strengths as one of the world’s leading rare metal producers and compliments IBC’s upstream exploration and development expertise as well as its strong manufacturing and distribution platform.
This MOU further solidifies Ulba and IBC’s commitment to strengthen their long-term relationship and to develop new opportunities for beryllium and complementary rare metal alloys as well as other mutually beneficial strategic technological and business opportunities.
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 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospectiveberyllium properties in the Western US 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”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email: [email protected]
Website: www.ibcadvancedalloys.com
Rubenstein Investor Relations
Tim Clemensen
(212) 843-9337
Email: [email protected]
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 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, changes in laws and regulations and changes in how they are interpreted and enforced, and the likelihood in obtaining required approvals of regulatory authorities. 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 and other factors it believes are appropriate in the circumstances.
To view all past news releases go here.
