🕐08.09.14 - 16:54 Uhr
NEWS RELEASE: LOCKHEED MARTIN AWARDS CONTRACT TO IBC ENGINEERED MATERIALS FOR B
ERALCASTĀ® CASTINGS FOR F-35 LIGHTNING II
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IBC Advanced Alloys
NEWS RELEASE
September 8, 2014
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Lockheed Martin Awards Contract to IBC Engineered Materials for BeralCast® Castings
for F-35 Lightning II
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Wilmington, MA, September 8, 2014.
IBC Advanced Alloys Corp.
(OTCQX: IAALF and TSX-V:
IB) ("IBC" or the "Company") reports that its wholly owned US subsidiary, IBC Engineered
Materials Corp., has been selected by Lockheed Martin Missiles and Fire Control
to provide critical cast components for the Electro-Optical Targeting System (EOTS)
on the F-35 Lightning II.
The first component covered by this contract is an EOTS
azimuth gimbal housing to be manufactured using Beralcast®, the Companys proprietary
beryllium-aluminum casting alloy.
This first contract is for production of OEM aircraft fitted with EOTS systems and
spares for low-rate initial production (LRIP) lots 7 and 8.
Pre-production has begun
at the Companys Wilmington, MA manufacturing facility with initial deliveries scheduled
to begin later this year and into 2015.The value of this initial contract is just
over $2.0 million including non-recurring engineering (NRE) and hard tooling deliverables
and has the potential, with subsequent LRIP contract awards, to increase significantly
over the life of the F-35 program.
The EOTS assembly being produced by Lockheed
Martin is for all the F-35 variants and planned production quantities are estimated
to be over 3,000 aircraft with deliveries through 2035.
"We are pleased to announce this validation of our Beralcast® alloys and are committed
to Lockheed Martin and the demanding requirements of this critical defense program,"
said Ray White, President of IBCs Engineered Materials Division.
"A key attribute
of our relationship with Lockheed Martin is flexibility and collaborative engineering,"
continued White, "and we look forward to supporting future initiatives where modulus,
weight and cost are critical performance factors."
"IBCs Beralcast® alloys are ideal materials for the F-35 Lightning II program where
certain components need the superior performance of beryllium aluminum," said Chris
Huskamp, Director of Technical Business Development for IBC.
"This purchase order
is an important validation of the Beralcast® as a high performance casting solution
to reduce costs and lead times compared to other beryllium aluminum alternatives."
The F-35 Lightning II, a 5th generation fighter, combines advanced low observable
stealth technology with fighter speed and agility, fully fused sensor information,
network-enabled operations and advanced sustainment.
Three distinct variants of
the F-35 will replace the A-10 and F-16 for the U.S.
Air Force, the F/A-18 for the
U.S.
Navy, the F/A-18 and AV-8B Harrier for the U.S.
Marine Corps, and a variety
of fighters for at least 10 other countries.
Following the U.S.
Marine Corps planned
July 2015 IOC, the U.S.
Air Force and Navy intend to attain IOC in Aug.
2016 and
2018, respectively.
Beralcast® alloys are ideally suited to many high performance application requiring
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.
Beralcast® is ideal for high performance industrial
and technology components as well as for a wide range of aerospace applications.
Aluminum-beryllium materials and castings provide favorable cost/benefit advantages
for customers who need certified materials with a combination of ultra-light weight,
high modulus and good thermal properties.
IBC Advanced Alloys has scheduled a live conference call today, September 8, 2014
at 11 am PST (2 pm EST) to discuss the announcement.
Anthony Dutton President &
CEO of IBC Advanced alloys will deliver a brief statement which will be followed
by a question and answer period.
To access the conference call by phone within
Canada and the U.S.
the toll-free number is 1-800-319-4610.
Outside Canada and
the U.S., dial 1-604-638-5340.
(Callers should dial in five to 10 minutes prior
to the scheduled start time).
Management will accept questions by telephone and e-mail.
Individuals wishing to
ask a question during the call, can do so by pressing *1.
Also, you can email questions
in advance of the conference call to .
An archive
of the conference call will be posted on the IBC Advanced Alloys website (www.ibcadvancedalloys.com)
as soon as it is available from the conference call provider.
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
[mailto:]
www.ibcadvancedalloys.com
The Howard Group Inc.
Dave Burwell / Brad Dryer
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.
| 1200-570 Granville St.
| Vancouver | BC | V6C 3P1 | Canada