FRANKLIN, IN (May 30, 2017) – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”) a leading beryllium and copper alloys company, announced today that it has been awarded a production contract from Raytheon Space and Airborne Systems (NYSE: RTN) to produce a beryllium-aluminum cast component for use in Raytheon’s Advanced Targeting Forward Looking Infrared (ATFLIR) system, currently in use on U.S. Navy F/A-18 fighter jets.
Terms of the contract were not able to be disclosed, although IBC expects to produce this part for Raytheon over multiple years. The part is a precision cast pitch gimbal housing for the ATFLIR system and is produced from IBC’s proprietary Beralcast® beryllium-aluminum material.
Beralcast® is more than three times stiffer than aluminum with 22% less weight, and can be precision-cast to simple and complex configurations. The material is very lightweight with a high modulus of elasticity and can be precision cast for three-dimensional stability. Beralcast® is ideally suited for aerospace applications, certain demanding semiconductor manufacturing equipment, computer components, and other commercial uses, and allows for a near-net shape to be cast for maximum manufacturing efficiencies.
Raytheon’s Advanced Targeting Forward Looking Infrared pod is a multi-sensor, electro-optical targeting pod incorporating thermographic camera, low-light television camera, target laser rangefinder/laser designator, and laser spot tracker that has been flight tested on all F/A-18 models. It delivers pinpoint accuracy and reliability for air-to-air and air-to-ground mission support, and assures mission success by integrating advanced EO and IR sensors with one of the most powerful lasers on the market. ATFLIR can locate and designate targets day or night at ranges exceeding 40 nautical miles and altitudes surpassing 50,000 feet, outperforming comparable targeting systems. As a powerful net-enabler, it can pass tracking and targeting information to other nodes in the networked battlespace with the speed and precision.
More information on the ATFLIR system can be seen here: http://www.raytheon.com/capabilities/products/atflir/.
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On Behalf of the Board of Directors:
Duncan Heinz, President, CEO and Director
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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”.
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.