FRANKLIN, Ind., Feb. 07, 2018 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V:IB) (OTCQB:IAALF) (“IBC” or the “Company”), a leading beryllium and copper advanced alloys company, announced today that is has renewed a long-term supply contract to provide a proprietary copper alloy to a Fortune 1000 company that specializes in the manufacture of high-performance materials for the commercial aerospace sector.
The U.S.-based Fortune 1000 company is an acknowledged global leader in the copper and strategic metals space, and has been an IBC customer for more than 12 years. The contract is not considered financially material to the Company, and terms of the contract renewal were not disclosed.
“We are pleased to be recognized as an essential and high-quality member of our customer’s supply chain and to have renewed this long-term supply commitment,” said Mark Wolma, President of IBC’s Copper Alloys operations. “This agreement renewal underscores IBC’s commitment to providing materials solutions to our global customers, and it validates IBC’s steadily improving track record of producing high-quality materials on-time and on-spec to our customers.”
IBC’s President and CEO, Major General Duncan Heinz (USMC, ret.) added: “We look forward to delivering on this agreement and to continue working closely with our customer to support their international reputation for manufacturing and materials excellence.”
On Behalf of the Board of Directors:
"Duncan Heinz”
Duncan Heinz, President, CEO and Director
Contact:
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF
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".
CAUTIONARY STATEMENTS
Neither the 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.