from Asian Firms
Wilmington, MA, September 21, 2015. IBC Advanced Alloys Corp. (OTCQX: IAALF and TSX-V: IB) ("IBC" or the "Company") a leading advanced alloys and precision castings company, reports that its Engineered Materials division has received two new orders totaling more than US$1.2 million from an existing Asian precision manufacturing customer. Deliveries of the finished cast components are expected to begin in the first quarter of fiscal 2016 and IBC is confident of additional business.
Engineered Materials President Chris Huskamp said, "IBC's business development initiatives focus on expanding our high performance castings product line while improving margins and operating efficiencies. We have identified a wide range of new opportunities and are engaged with several groups. While IBC is currently focusing on the aerospace sector for its Beralcast® alloys," continued Huskamp, "high performance manufacturing is a growing opportunity for IBC. Robotics, precision manufacturing and automated assembly rely on highly sophisticated materials and IBC sees many opportunities for Beralcast® where precision, light weight and high modulus are essential operating requirements."
IBC is expanding its business development initiatives to meet the growing global demand for specialty high performance and high modulus cast alloy products. Asian markets are increasingly important and IBC will continue to leverage its expertise in these dynamic economies. IBC's customer has contracted for specialized high performance castings to improve the efficiency and effectiveness of their manufactured product where tight operating tolerances and vibration dampening characteristic are critical performance measures. The customer identity has not been disclosed for competitive reasons.
"IBC is building a strong reputation as a materials solutions provider and continues to build momentum with both our Copper Alloys division and our high modulus lightweight Beralcast® alloys," said Anthony Dutton, President and CEO of IBC Advanced Alloys. "We are committed to supporting our customers, their commitment to manufacturing excellence and their need for advanced materials that exceed critical performance targets."
Beralcast® alloys are ideally suited to many aerospace applications where lightweight, high modulus and cost are critical performance factors. The principal Beralcast® alloys are three times stiffer than aluminum with 22% less weight and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum.
Source: IBC Advanced Alloys