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Kazatomprom and IBC Advanced Alloys Sign Memorandum of Understanding Regarding Strategic Cooperation
Under the terms of the MOU, Kazatomprom, Ulba and IBC have committed to developing a plan of strategic cooperation with regards to the global beryllium market and to explore mutually beneficial initiatives to foster market growth and technological development. In addition, Kazatomprom has provided IBC with beryllium and master alloy long-term supply assurances which will better allow IBC to develop and implement long term strategic growth initiatives. This MOU is an important step in developing a long-term strategic relationship between Kazatomprom, Ulba and IBC and is intended to improve manufacturing and marketing efficiencies while broadening the opportunities for beryllium metal, beryllium-based alloys and other related products.
"We are signing this MOU with IBC," stated Mr. Moukhtar Dzhakishev, president of Kazatomprom, "given that IBC and its wholly owned subsidiary, Freedom Alloys, have a long customer history with both Kazatomprom and Ulba. We expect this MOU will allow us to take advantage of future opportunities in a mutually beneficial and cooperative way."
"Kazatomprom signed this MOU for mutual cooperation," said Yuri Shakhvorostov, deputy director general - beryllium facility for Ulba, "in order to provide integrated efforts in the global beryllium market in the present complicated global economical environment. Our mutual cooperation and operational effectiveness are time proved," continued Deputy Director Shakhvorostov, "as Ulba and IBC Freedom Alloys Division have a long-established relationship in the beryllium sector and we are ready to continue and build on this cooperation."
"We are tremendously excited to be strengthening our relationship with Kazatomprom and Ulba and to be working together to develop opportunities in the global beryllium and beryllium master alloys market," stated Anthony Dutton, president and CEO of IBC. "This MOU is a testament to our shared belief in the future of beryllium and beryllium alloys and underlines the importance of mutual cooperation to realize full market potential. Kazatomprom and Ulba are highly respected world-class companies," continued Mr. Dutton, "and IBC is looking forward to aligning its strategic interests and expanding its global reach in partnership with acknowledged market leaders."
About IBC Advanced Alloys Corp.
IBC Advanced Alloys Corp. is an integrated manufacturer and distributor of beryllium based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 65 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania and Indiana. Additionally, IBC owns prospective beryllium properties in Brazil and the Western US covering approximately 9,500 hectares. 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". For further information please visit www.eragonlatrilogia.com
Kazatomprom is the national operator of the Republic of Kazakhstan for the export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, the manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, non-ferrous metallurgy and production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 25,000 employees and is amongst the leading uranium production companies in the world. For further information please visit www.kazatomprom.kz
About Ulba Metallurgical Plant
"Ulba Metallurgical Plant" Joint-Stock Company ("UMP" JSC) is located in Ust-Kamenogorsk, Eastern Kazakhstan, and has been a part of Kazatomprom since 1997. The Ulba Plant was founded on October 29, 1949. By early 70s "UMP" JSC joined a number of the world's largest producers of uranium, beryllium and tantalum. "UMP" JSC - is a unique company with 60 years experience in the production and delivery of uranium, beryllium and tantalum products for the needs of nuclear industry, atomic engineering, electronics, metallurgical and other spheres. The Ulba plant's beryllium production facility is one of three enterprises in the world with full production cycle from ore concentrate processing to finished products output with the rated quality set-ups. Current company staff accounts for over 6,000 employees. For further information please visit www.ulba.kz
For additional information please contact:
IBC Advanced Alloys Corp
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
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.