WILMINGTON, MA – March 25, 2015 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX: IAALF) a leading advanced alloys and precision castings company, reports that its wholly owned US subsidiary, IBC Engineered Materials Corp. (“IBC-EMC”) has received a purchase order from Kaman Corporation (NYSE:KAMN) to supply critical imaging system components that will be used on US naval and foreign military tactical aircraft.
Production on the new contract has begun at IBC’s Wilmington, MA facility with the first components scheduled for delivery in fiscal 2015. Based on past program purchases IBC-EMC expects to make further sales of related components. Terms of the order are not disclosed.
“IBC-EMC has extensive experience in high performance optical targeting systems where weight savings and high modulus are critical performance factors,” said Ray White, IBC EMC President. “Our Beralcast® castable alloys are ideally suited to these kinds of specialized precision applications and can uniquely offer defense and aerospace contractors cost effective solutions compared to more traditional machined components. We are delighted,” continued White, “to be working with Kaman Corporation who are committed to manufacturing excellence and we look forward to supporting them in additional programs.”
Beralcast® alloys are ideally suited to many aerospace applications where lightweight, high modulus and cost are critical performance factors. Beralcast® alloys are three times stiffer and 22% less weight than aluminum. Beralcast® alloys can be an engineered substitute for aluminum, magnesium, titanium, metal matrix composites, pure beryllium or powder metallurgy beryllium-aluminum materials in the appropriate applications.
Kaman Corporation (NYSE:KAMN) was founded in 1945 and is headquartered in Bloomfield, CT, where it conducts business in the aerospace sector and distribution markets. The Company produces and distributes a wide range of proprietary aircraft bearings and components and complex metallic and composite aero-structures for commercial, military and general aviation fixed and rotary wing aircraft. Kaman Corporation operates globally through a network of more than 200 offices and has over 5,000 employees.
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. 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” and the OTCQX under the symbol “IAALF”.
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
The Howard Group Inc.
Dave Burwell/Brad Dryer
Toll Free: 1-888-221-0915
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.
To view past news releases go here.