- About IBC
- News and Newsletters
- Financial Reporting
- Shareholder Information
International Beryllium Signs Letter of Intent to Acquire Second Beryllium Metalworking and Specialty Alloy Processor
Completion of the proposed transaction is subject to several conditions including customary due diligence and approval by the boards of directors of IB and the target company; shareholders of the target company; and the TSX Venture Exchange. There can be no assurance that the necessary approvals will be obtained or that the transaction will be completed as proposed or at all.
The acquisition target is based in the United States where it manufactures and processes a range of beryllium copper products and other special alloys. Its manufacturing infrastructure and processes are complementary to IB's recent acquisition, Freedom Alloys, Inc., and will further integrate IB's manufacturing value chain. The acquisition target has an established North American and international customer base serviced via direct sales channels and independent distributors.
"We are very pleased to have signed a letter of intent to acquire this company," stated Anthony Dutton, President and CEO of IB. "Their technology and manufacturing capabilities will further enhance IB's development of a vertically integrated global beryllium company allowing us to improve our manufacturing efficiencies and increase our market presence both in North America and internationally. We are very interested," continued Dutton, "in their industrial components division, particularly in their oil and gas applications, and look forward to working closely with them to grow this business".
About International Beryllium Corporation
International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, oil and gas, defence, electronics and automotive. International Beryllium's common shares are traded on the TSX Venture Exchange under the symbol IB.
For additional information please contact:
International Beryllium Corporation
Anthony Dutton, CEO
(604) 689-1515 ext 111
Legal Notice Regarding Forward Looking Statements
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, 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 operations and mineral exploration, therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. 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.