Today- Marketwire
IBC Advanced Alloys Corp. (TSX VENTURE: IB)(OTCQX: IAALF) ("IBC" or
the "Company") has signed a non-binding memorandum of understanding
("MOU") with Nu-Cast, Inc. ("Nu-Cast"), based in Londonderry, NH, to
collaborate with IBC on new beryllium-aluminum investment casting
projects and opportunities, initially for the aerospace sector.
The MOU outlines a framework for increasing manufacturing capacity
and improving production efficiencies of IBC's proprietary
near-net-shape beryllium aluminum castings. The parties will also
focus on joint business development initiatives aimed at increasing
market share for IBC's castings which offer significant costs savings
and improved delivery times compared to the existing production
methods.
IBC's casting process has a long and successful history, with over
250,000 castings produced to date, and both companies have identified
opportunities for significant growth in the aerospace and other
markets. A proposed IBC-Nu-Cast initiative will combine the two
companies' complementary skills to address this exciting opportunity
and to drive both sector and application growth.
Founded in 1985, Nu-Cast is a recognized global leader of complex
aluminum investment castings specializing in large lightweight
structures for electronic, optical and aerospace projects. Nu-Cast
has an established client base, which includes NASA agencies as well
as top tier defense and military contractors including
Lockheed-Martin, General Dynamics, Honeywell, Boeing, Northrop
Grumman, Raytheon and many others.
The two Companies have identified opportunities to improve
manufacturing and marketing efficiencies for beryllium aluminum
castings to support future growth. Nu-Cast has extensive experience
with aluminum investment castings that will complement IBC's
beryllium aluminum casting expertise. Pursuant to the MOU, the
parties will initially evaluate and develop opportunities to expand
IB-EMC's proprietary Beralcast(R) alloys for aerospace applications.
"Nu-Cast has successfully served the aerospace sector for almost
three decades and is an excellent complement to IBC's technology,
team and corporate vision," said Don McKitterick, President of
Nu-Cast. "Beryllium aluminum alloys have a long history of superior
performance in aerospace sector," continued McKitterick, "By
combining IBC's propriety and cost effective castings with Nu-Cast's
manufacturing and marketing experience, we believe there is enormous
potential for growth and we look forward to working with IBC on this
opportunity."
"There are many immediate synergies between IBC and Nu-Cast where we
can share our respective know-how to better serve the aerospace
industry," said Anthony Dutton, President of IBC. "We are delighted
to work with Nu-Cast, who has a long and distinguished track record
in the aerospace business, and to mutually increase opportunities for
Beralcast(R) in the aerospace sector and other industries requiring
high performance precision castings."
As recently disclosed, IB-EMC is in the final stages of an advanced
qualification process with Lockheed-Martin's Electro-optical
Targeting System (EOTS) team in Orlando, FL. IB-EMC is working with
the EOTS engineering, design and quality teams to qualify the
Company's Beralcast(R) alloys as effective alternatives to improve
lead time and affordability of beryllium aluminum aerospace
components. IB-EMC has completed several advanced prototype castings
which are being used to evaluate Beralcast(R) alloys and castings for
high performance optical aerospace components on Lockheed-Martin's
F-35 Lightning II aircraft.
Beralcast(R) alloys can be used in virtually any high performance
application requiring complex, lightweight and high-stiffness parts
and can be substituted for aluminum, magnesium, titanium, metal
matrix composites as well as pure beryllium or powder metallurgy
beryllium-aluminum. Beralcast's(R) principal alloys are more than
three times stiffer than aluminum with 22% less weight and can be
precision-cast for simple and complex three-dimensional stability.
These high modulus alloys are ideal for high performance industrial
and high tech components as well as for a wide range of aerospace
applications.
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".
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.
Contacts:
IBC Advanced Alloys Corp.
Ian Tootill
Director of Corporate Communications
(604) 685-6263 ext 110
itootill@ibcadvancedalloys.com
www.ibcadvancedalloys.com
The Howard Group Inc.
Dave Burwell
(403) 221-0915 or Toll Free: 1-888-221-0915
info@howardgroupinc.com
SOURCE: IBC Advanced Alloys Corp.
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Oct 31, 2013
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BC – July 9th, 2013 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX:
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