WILMINGTON, MASSACHUSETTS--(Marketwired - Dec 3, 2013) - IBC Advanced Alloys Corp. (IAALF) (TSX VENTURE:IB) ("IBC" or the "Company") reports that its wholly owned US subsidiary, IBC Engineered Materials Corp. ("IB-EMC") is in the final stages of a materials and production qualification process with Lockheed Martin's F-35 Electro-optical Targeting System (EOTS) team based in Orlando, Florida.
IB-EMC is working directly with Lockheed Martin's F-35 EOTS engineering, design and quality teams to develop specific components to demonstrate the technical and commercial viability of the Company's proprietary Beralcast® alloys as effective alternatives to improve lead time and affordability of high performance aerospace components made from beryllium aluminum alloys. As a part of the project IB-EMC has completed several advanced prototype castings which are being used to evaluate Beralcast® alloys and castings for several critical structural and sub- system aerospace components.
The current first phase initiative is to conduct studies of Beralcast® alloys for use on specific optical components on Lockheed Martin's F-35 Lightning II aircraft. This collaboration with Lockheed Martin is also allowing IBC to demonstrate its expertise and industry leadership in offering rapid prototyping and advanced materials solutions to provide investment cast parts to aerospace customers with short lead time and competitive pricing requirements.
"IBC Engineered Materials is excited to be collaborating with Lockheed Martin and believe we will demonstrate the viability of our Beralcast® alloys and cast components as mechanically compliant and cost effective components for the F-35 Lightning II program," said Ray White, President of IB-EMC. "We hope that IBC's partnership and collaboration with Lockheed Martin will advance the potential for our engineered materials products for other aerospace industry initiatives where modulus, weight and cost are important design criteria."
Beralcast® 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® 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.
- Lockheed Martin