🕐04.02.14 - 15:54 Uhr
NEWS RELEASE: IBC ADVANCED ALLOYS SIGNS MEMORANDUM OF UNDERSTANDING WITH NU-CAST, INC.
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IBC Advanced Alloys
NEWS RELEASE
February 4, 2014
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IBC Advanced Alloys Signs Memorandum of Understanding with Nu-Cast, Inc.
Opportunity for Development and Market Expansion of Proprietary and High Performance
Investment Casting Solutions for Aerospace and Advanced
Applications
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Vancouver, BC, February 4, 2014.
IBC Advanced Alloys Corp.
(OTCQX: IAALF and TSX-V:
IB;), ("IBC" or the "Company") has signed a non-binding memorandum of understanding
("MOU") with Nu-Cast
Inc.
("Nu-Cast"), based in Londonderry, NH, to collaborate with IBC on new beryllium-aluminum
investment casting projects and opportunities, initially for the aerospace sector.
The MOU outlines a framework for increasing manufacturing capacity and improving
production efficiencies of IBCs proprietary near-net-shape beryllium aluminum
castings.
The parties will also focus on joint business development initiatives
aimed at increasing market share for IBCs castings which offer significant costs
savings and improved delivery times compared to the existing production methods.
IBCs casting process has a long and successful history, with over 250,000 castings
produced to date, and both companies have identified opportunities for significant
growth in the aerospace and other markets.
A proposed IBC-Nu-Cast initiative will
combine the two companies complementary skills to address this exciting opportunity
and to drive both sector and application growth.
Founded in 1985, Nu-Cast is a recognized global leader of complex aluminum investment
castings specializing in large lightweight structures for electronic, optical and
aerospace projects.
Nu-Cast has an established client base
which includes NASA agencies as well as top tier defense and military contractors
including Lockheed-Martin, General Dynamics, Honeywell, Boeing, Northrop Grumman,
Raytheon and many others.
The two Companies have identified opportunities to improve manufacturing and marketing
efficiencies for beryllium aluminum castings to support future growth.
Nu-Cast has
extensive experience with aluminum investment castings that will complement IBCs
beryllium aluminum casting expertise.
Pursuant to the MOU, the parties will initially
evaluate and develop opportunities to expand IB-EMCs proprietary Beralcast alloys
for aerospace applications.
"Nu-Cast has successfully served the aerospace sector for almost three decades and
is an excellent complement to IBCs technology, team and corporate vision," said
Don McKitterick, President of Nu-Cast.
"Beryllium aluminum alloys have a long history
of superior performance in aerospace sector," continued McKitterick, "By combining
IBCs propriety and cost effective castings with Nu-Casts manufacturing and marketing
experience, we believe there is enormous potential for growth and we look forward
to working with IBC on this opportunity."
"There are many immediate synergies between IBC and Nu-Cast where we can share our
respective know-how to better serve the aerospace industry," said Anthony Dutton,
President of IBC.
"We are delighted to work with Nu-Cast, who has a long and distinguished
track record in the aerospace business, and to mutually increase opportunities for
Beralcast in the aerospace sector and other industries requiring high performance
precision castings."
As recently disclosed, IB-EMC is in the final stages of an advanced qualification
process with Lockheed-Martins Electro-optical Targeting System (EOTS) team in Orlando,
FL.
IB-EMC is working with the EOTS engineering, design and quality teams to qualify
the Companys Beralcast alloys as effective alternatives to improve lead time and
affordability of beryllium aluminum aerospace components.
IB-EMC has completed several
advanced prototype castings which are being used to evaluate Beralcast alloys and
castings for high performance optical aerospace components on Lockheed-Martins
F-35 Lightning II aircraft.
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.
Beralcasts 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.
IBCs common shares are traded on the TSX
Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
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IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email:
Website: www.ibcadvancedalloys.com
The Howard Group Inc.
Dave Burwell
Toll Free: 1-888-221-0915
(403) 221-0915
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 Companys
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 Companys
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.
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IBC Advanced Alloys Corp.
| 906-595 Howe St.
| Vancouver | BC | V6R 2H6 | Canada