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IBC Advanced Alloys Opens New Engineered Materials Manufacturing Facility
New Manufacturing Facility to Support Company’s Strong International Growth
Vancouver, BC – May 17, 2011 – IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) has opened a new 63,000 square foot manufacturing facility in Wilmington, MA to support the strong growth of the Company’s Engineered Materials division. This new facility represents a major investment by IBC and will significantly increase the Company’s production capacity for near net shape investment castings using the proprietary Beralcast® family of high performance ultra-lightweight alloys.
“The opening of the new Engineered Materials facility underscores IBC’s commitment to its Beralcast® alloys and proprietary casting technologies,” said Ray White, President of IBC Engineered Materials. “This new facility has been designed specifically to meet our customers’ increasingly technical requirements and high quality standards, while accommodating faster and more demanding delivery schedules. We are looking forward,” continued White, “to satisfying the increasing global demand for our castings and to fulfilling the needs of our growing aerospace and high tech customer base.”
The Company has successfully relocated to an optimally configured modern facility that employs a more streamlined process flow and incorporates additional equipment to further improve production efficiencies. The plant also includes a second furnace that will ultimately further increase capacity. IBC’s Wilmington facility will provide customers with advanced metallurgical materials solutions produced at a state of the art manufacturing facility. IBC expects to increase employment at the Wilmington plant and to add up to 40 high tech manufacturing and engineering personnel over the next three years.
Beralcast® alloys are used in the manufacturing of various high tech industrial components as well as in many commercial and military aerospace applications requiring complex, lightweight and high-stiffness parts. The primary Beralcast® alloy is more than three times stiffer than aluminum with 22% less weight and can be precision-cast to simple and complex configurations making it an ideal engineered and cost effective solution for a wide range of complex aerospace and commercial applications. Its material properties help to contribute to greater production efficiencies, an exceptional performance profile and consistent high quality standards.
“This investment and plant opening represents a significant event in our IBC’s history and would not have been possible without the ongoing support of our customers, employees and shareholders,” said Anthony Dutton, President and CEO of IBC. “IBC is committed to materials performance and to providing engineered materials solutions to our growing international customer base,” continued Dutton, “and this new facility is a testament to that commitment.”
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. Additionally, IBC owns prospective beryllium properties in 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”.
IBC Advanced Alloys Corp. - Contact
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
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, 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.