WATKINS, MN and VANCOUVER, BC -- (MARKET WIRE) -- March 12, 2007 -- International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire resistant building materials, is pleased to report record
year-to-date and monthly sales revenue for the Commercial Modular Industry.
Sales volumes of 380,300 sq. ft. of Blazeguard products were shipped into
the commercial modular market for the period ending February 28, 2007.
This is a 112% increase from the same period in the previous year. Total
sales for the month of January were 447,632 sq. ft. Year-to-date,
5,933,900 sq. ft. of Blazeguard products have been shipped, which is an
increase of 24% over the 4,775,400 shipped this time last year.
Sales revenue in the commercial modular industry during the month of
February increased a dramatic 122%, as the market remains strong and new
market share is captured. Blazeguard sales into the residential roof deck
market were again impacted this month by softness in the housing market.
Even though total sales revenue for February is down, year-to-date sales
revenue is up to $4,284,617 from $4,063,533 reported last year. The pass
through commodity, sheathing costs, continue at near all-time lows. This
kept top-line sales revenue lower that what it could have been had
sheathing prices been at or above average historical prices.
About International Barrier Technology Inc.
International Barrier Technology Inc. (
OTCBB:
IBTGF) (
TSX-V:
IBH) develops,
manufactures, and markets proprietary fire resistant building materials
branded as Blazeguard®. Barrier's award-winning Blazeguard® wood panels
use a patented, non-toxic, non-combustible coating with an extraordinary
capability: it releases water in the heat of fire. The panels exceed
"model" building code requirements in every targeted fire test and
application, and are unique in combining properties that increase panel
strength and minimize environmental and human impact. Blazeguard®
provides Barrier's customers a premium material choice meeting an
increasingly challenging combination of requirements in residential and
commercial building construction. Blazeguard® customers include many of
the top multifamily homebuilders, and commercial modular building
manufacturers in the United States.
INTERNATIONAL BARRIER TECHNOLOGY INC.
Michael D. Huddy
President, Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS
RELEASE.
Forward-Looking Information: The statements in this news release contain
forward-looking information within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve
certain risks, assumptions and uncertainties, including but not limited to
the ability to generate and secure product sales. In each case actual
results may differ materially from such forward-looking statements. The
company does not undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that any
projected results (expressed or modified) will not be realized.
Contact Information: Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
Email Contact
For more information please visit: www.intlbarrier.com