FRANKLIN, INDIANA--(Marketwired - March 22, 2017) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQB:IAALF) ("IBC" or the "Company") a leading beryllium and copper advanced alloys company, announces its recent success in a bidding process involving a select group of carefully screened and pre-qualified suppliers to produce and provide forged and machined copper alloy products to a Fortune 100 electronics manufacturer.
IBC currently supplies one part to this global electronics manufacturer. In addition to winning the bid for continued production of its current part, IBC also won bids on five additional parts, which represent products across three different copper alloy chemistries.
Potential revenues from forecast volumes over the next 12 months from all six parts are more than USD $2 million. This forward-looking statement is based on assumptions including historical ordering patterns. Although IBC believes that the expectations reflected in this forward-looking statement are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. There can be no assurance that these revenues will be achieved.
"I'm very pleased that our Copper Alloys team competed successfully in an effort to grow our business with this highly respected global manufacturer," said Major General Duncan Heinz (USMC, ret.), President, CEO, and Director of IBC. "This represents the potential for a substantial increase in business with this customer, and shows that our manufacturing capabilities, product quality, and pricing continues to be competitive in the marketplace."
IBC's Copper Alloy division produces a variety of finished and semi-finished copper and copper alloys products for use in electronics, oil and gas and defense.
On Behalf of the Board of Directors:
Duncan Heinz, President, CEO and Director
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".
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.
The forward looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC's filings at www.sedar.com.
IBC Advanced Alloys Corp.
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