FRANKLIN, Ind., Aug. 22, 2019 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to announce that it has received new orders of high-performance beryllium-aluminum alloy parts made from IBC’s proprietary Beralcast® material from a leading global manufacturer of semiconductor and electronics assembly equipment. Orders for calendar fourth quarter 2019, made under an existing exclusive supply agreement between IBC and the semiconductor assembly equipment manufacturer, are valued at approximately US$400,000. The Company expects further orders in subsequent quarters.
The parts that IBC makes for this customer are used in automated assembly equipment that produce cutting-edge semiconductor chips. In addition to new orders of parts under an existing design, IBC also received orders from the customer for a newly designed beryllium-aluminum part on which IBC and the customer have been collaborating over the past year. The new part is designed to support the customer’s plans to modernize its current product line and potentially expand its business.
Orders for Beralcast® parts from this customer have trended down over the past several quarters because of market conditions in the semiconductor industry, but appear to be strengthening once again.
Beralcast® alloys are ideally suited to many aerospace applications where light weight, high modulus, and cost are critical performance factors. Beralcast® alloys are three times stiffer than aluminum with 22% less weight, and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum.
“IBC’s Beralcast® material is uniquely suited to meeting the demanding performance specifications and critical tolerances that are often required in the robotics, precision manufacturing, and automated assembly industries,” said Mark A. Smith, Chairman of the Board of IBC. “The fact that our Beralcast® products are so lightweight and stiff and have excellent thermal characteristics makes them uniquely situated for use in these industries. We are pleased to see this particular business ramping back up again.”
On Behalf of the Board of Directors:
Mark Smith, Chairman
Mark A. Smith, Board Chairman
Jim Sims, Director of Investor and Public Relations
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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 Alloys 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".
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. Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, the expectations on future orders from the semiconductor and electronics assembly equipment sector. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. 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.
Please see “Risks Factors” in our Annual Information Form available under the Company’s profile at www.sedar.com, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.